this
$1000 can fund such a nice design.
You could do a bunch of analysis on pressure throughout the system as well as have fun riding it around. You could even work energy transfer equations if you are feeling thermodynamically savvy.
Since you have ~2 months I would definitely suggest analysis on 2 or 3 different designs. i.e. various pressure sources, various skirt designs and various thrust sources.
A hovercraft would make for a great engineering design project and you and your team will be able to make it as simple or in depth as you'd like.
Although, I doubt you have to go that in depth considering you are in high school.. good luck