The Princeton City Council approved the 2020-2021 budget on Monday.
Projected revenues are $617.551.51 for general funds and $940,688.48 for enterprise funds for a combined total of $1,558,239.99. Anticipated expenditures are $432,915 for general and $1,077,390 for enterprise funds for a combined total of $1,510,305.
Princeton City Clerk Danette Snapp reports the city has sales tax added in the general funds and the use tax, which can cover any deficit in the general funds. Sales and use tax funds are projected at $177,000. Expenditures budgeted for include paving on College Avenue from the highway to the school at an estimated cost of $70,000 and a new lift station expected to cost about $73,000.
Snapp says the city plans to hire a full-time employee, and pay could start at $13.00 per hour with a CDL. The pay is anticipated to increase by $1 per hour after 90 days. There could also be an increase in pay for getting certified in water and wastewater.
Princeton anticipates receiving grant funding to help pay for water and wastewater upgrades.