New Jersey School Boards Association reports that the additional $150 million in the State Budget for education that wasn’t vetoed by Gov. Christie will be divided among suburban districts so “that each school district recovers at least two-fifths of the state aid cut it experienced in 2010-2011.”
Abbotts will get the additional $446.9 million ordered by the State Supreme Court to fully fund NJ’s school funding formula for the 2011-2012 school year. However non-Abbotts will most likely be instructed to save their additional state aid for the 2012-2013 school year:
[C]urrent state law would require that each school district treat its share of the $150 million aid increase as unanticipated revenue. That designation would apply because school budgets have been set and local property tax levies have been struck.
If such statute applies, it would restrict the spending of the additional aid during the current school year and would generally reserve the new funds for property tax relief in 2012-2013.
