TRENTON — Gov. Phil Murphy has signed a bill to allocate $103,023,579 for nearly 170 eligible school districts to support districts seeing reductions in school aid in the 2023 to 2024 school year budget under S-2.
Schools that would receive additional aid include Brick Township, Point Pleasant Borough, Point Pleasant Beach and Lavallette.
S2 is a New Jersey senate bill that modifies the school funding law to eliminate adjustment aid and State aid growth limit; allows adjustment to tax levy growth limitation for certain school districts.
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The bill allows school districts that will see a reduction in school aid in the fiscal year 2024 to request an additional amount of aid equal to 66 percent of the difference between the amount they received in the 2022-2023 school year and the amount of aid currently proposed for the 2023-2024 school year.
Brick School District Superintendent of Schools Thomas Farrell said, “Brick Schools is happy that we will have 66 percent of State aid lost put back and that will save 20 positions in 2023-2024 budget. Although we are appreciative, we do recognize that this is still a ‘band-aid’ approach to a larger issue of more equitable State school funding and that we need to address the inequities of the current funding formula before the next budget cycle.”
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