Princeton School District owed more than $700,000 from Illinois

PRINCETON, Illinois - School leaders in Princeton say they're waiting for money from the state. The district is owed more than $700,000.

It's been six months since Princeton has seen money from Illinois for teacher salaries, transportation, even special education.

The largest chunk of the money owed goes to pre-school, with more than $300,000 owed to that fund.

"It`s kind of a question as to what do we have to do to make sure we end the fiscal year with cash," said Superintendent, Tim Smith.

No cash means the district will have to look at leaving vacant positions unfilled, causing larger class sizes. It also could mean borrowing money to make ends meet. That leaves taxpayers with added interest payments and fees.

"It is sad, I`ve been in the profession for 30 years now and I`ve never seen anything like it," said Smith.

By June, the state will owe the school district $1.5 million.

The school district will decide whether or not to borrow money by March 2017.