During Gov. Murphy’s budget speech on Tuesday, one of the items that perked ears up was his announcement that state school aid funding would increase by $650 million, for a total 2022-2023 allocation of $9.9 billion ($11.2 billion if you include increases to preschools).
But not everyone comes out ahead: following small changes to New Jersey’s school funding formula, districts that are under-aided see gradual increases and districts that are over-aided see gradual decreases. The fiscal year for schools begins in July. Here’s an Explainer on how NJ funds schools.
Here are some of the changes from last year that jump out:
- Jersey City is taking a bit hit, losing $68.5 million, a 27% decrease in annual state aid.
- Newark will see a 13.2% increase, an additional $121 million, for total state aid of $1,035,927,916
- Edison’s state aid will pop up by almost 33%, one of the highest increases in the state.
- Atlantic City‘s state aid will go up 31.6%, to $96 million.
- Cherry Hill will get a 20% increase, for total aid of $29.6 million.
- Hoboken will get 8.5% less, for a total of $701,657.
- South Orange-Maplewood‘s aid goes up 15%.
- Elizabeth City‘s goes up 8.3%, to $486,717,613.
- Asbury Park City will lose 22.7%, a loss of $8.6 million. Total state aid will be $29.2 million.
- Lakewood gets an extra 3.6%, for total state aid of $24.7 million.
To find your own district, go here and use Advance Media’s handy widget.
