During this afternoon’s briefing for education stakeholders, Governor Corzine and Education Commissioner Davy described the structure of a new school funding formula that they want in place for 2008-09. Their proposed system would establish the concept of an “adequacy budget,” based on the department of education’s cost studies over the past year. The adequacy amount would represent the components and the cost of a thorough and efficient education. It would apply to all school districts – Abbott and non-Abbott – without distinction.
But if you’re visiting this blog to find out the dollar figure for the “adequacy amount” or how much state aid your district will receive under the proposal, you’re going to be disappointed, as were we. (more…)