State Budget Is on Track for July 1

State Budget Is on Track for July 1

The Legislature is considering a proposed $33.4 billion state budget for 2007-2008. Roughly one-third will be set for K-12 public education.

Lawmakers are moving the process along swiftly, and it appears that they will meet the July 1 budget deadline. Last year, state government shut down after a stalemate between Gov. Jon Corzine and legislative leaders.

The biggest news for school districts this year is the governor’s $580 million proposal for more education aid.

“For the first time in many years, aid to every single school district will be increased. New aid will be dedicated toward educational priorities that focus on the individual needs of children,” the governor said in his February budget address.

Aid for All Districts Non-Abbott communities with large populations of students who live in poverty are expected to receive more funding. Although a new school finance system will not be in place for September, state Commissioner of Education Lucille E. Davy has said that developing a formula is her department’s highest priority.

While many public school districts are expected to receive a 3 percent increase in state aid, local governments will only see a 2 percent hike. The aid increase to schools marks the most significant state aid increase for education since 2000.

Overall, New Jersey’s budget proposal is up about 8.7 percent over last year.

NJSBA is reviewing the budget and will update its members on any new developments at www.njsba.org.