Early Look at OLS Report Reveals Many Districts Will See Net Loss in State Money
On eve of budget hearing, increased debt service on school construction grants blunts Christie’s funding promises.
Under Gov. Chris Christie’s proposed fiscal 2014 budget, almost half of New Jersey school districts will see a net loss in the amount they receive from the state next year, according to a new legislative analysis. The main culprit is the extra bill for debt service on school construction grants, said the nonpartisan Office of Legislative Services in its annual analysis of the governor's proposed $13.3 billion education budget. Factoring in that money, it found that about 270 districts -- or 48 percent -- will see net losses ranging from a few hundred dollars to more than $200,000 in Barnegat and East Brunswick. Others on average will see about a 10 percent reduction in their publicized increases in direct formula aid, according to the …
