School Funding Formula Remains High Priority for Lawmakers

School Funding Formula Remains
High Priority for Lawmakers

After last week’s general election, there were renewed discussions about the likelihood of a new school funding formula being introduced in both houses of the Legislature during the lame-duck session.

Senate President Richard Codey and Assembly Speaker Joseph Roberts, for example, agreed on the need to start discussing a formula to meet state budget timelines. The governor has indicated that the discussion should start soon to allow thorough review of all the ideas that need to be incorporated into the new formula.

A possible scenario: the basic concepts of a new school funding method are identified and refined during the lame-duck session, with accelerated discussion and the introduction of a bill taking place during the first weeks of the new legislative session, which begins Jan. 8.

NJSBA has maintained that New Jersey’s school finance system must enable all public school students—regardless of community wealth—to meet the state’s Core Curriculum Standards. State funds should support at least 50 percent of the total cost of education statewide. Additionally NJSBA policy calls for:

A predictable, sustainable formula that shifts school revenue away from the property tax
A required level of spending tied directly to the Core Curriculum Content Standards
Fiscal equity for children in Abbott and non-Abbott districts
A larger state role in special education funding
Expanded state support for shared-services and regionalization studies
Fulfillment of the state’s promise of adequate, safe facilities in all communities.

See related story...