City of Princeton
Overview
Princeton's FY2025-26 adopted budget totals $179.9 million with an 11.6% year-over-year operating increase and an $80 million capital improvement program funded largely by voter-approved bonds, earning a Starbridge budget trend score of 88 — where Starbridge analyzes adopted budgets, leadership changes, capital programs, and fiscal indicators to score cities on budget direction and spending readiness (0-100). The city is experiencing rapid growth and investing across public safety, recreation, and library infrastructure.
Budget Analysis
The FY2025-26 adopted budget is $179.9 million, with an 11.6% operating budget increase driven by higher property-tax M&O revenues. The property tax rate is set at $0.4402 per $100 valuation. The city maintains an unencumbered general fund balance of $10.6 million, providing near-term liquidity for discretionary investments. Princeton maintains a clear separation between operating and capital spending, with capital projects funded through $55 million in voter-approved General Obligation Bonds from a $109 million parks bond package and Certificates of Obligation.
Capital Projects
The total CIP is estimated at $80 million. The largest project is a $60 million Multi-Generational Recreation Center with Outdoor Pool on Myrick Lane, funded from the parks bond package. A $25 million Public Safety Facility and Modular Fire Training Tower is planned through Certificates of Obligation. Additional projects include a $6.5 million Skate Facility at JJ 'Book' Wilson Park, $4 million in artificial turf for Caldwell Park, and $1 million in Lois Nelson Public Library renovations.
Procurement Outlook
Princeton is positioned to invest in vehicle replacement, outdoor warning systems, police software, and a utilities rate study, with $10.6 million in discretionary liquidity backing near-term purchases. The $80 million CIP creates procurement opportunities in construction management, recreation facility technology, public safety systems, and library modernization for vendors with solutions aligned to the city's stated priorities and clear near-term ROI.