Whether you’re a new board member or a seasoned veteran, there are always new leadership skills to explore. NJSBA offers training opportunities to help you reach your full potential as a board member.
Sound school budgeting and finance is crucial to the smooth operations of your district.
School Budget and Finances
It is often said that the annual school budget is the financial expression of your district’s educational goals and aspirations. It also reflects the district’s financial resources and how they will be utilized, is a plan for controlling the level and type of spending in your schools during the year and is a consensus document that reflects the input of your administration, board and community.
A comprehensive understanding of school finance and the budget process empowers board of education members to make informed, strategic decisions that support the educational mission of the district while ensuring fiscal responsibility.
School finance is the backbone of every effective educational program, and a challenge for almost every board member.”
– “Fundamentals of School Board Membership”
School Finance
Below are some of the resources that NJSBA has developed to help board members better understand school finance and budgets.
Education Highlights of the Murphy Administration’s Fiscal Year 2026 Budget Proposal
For the second consecutive year, the administration proposes fully funding the School Funding Reform Act formula. This equates to approximately $12.06 billion in formula aid – a $386 million (3.3%) increase over fiscal year 2025.
03/04/2025
Topics: School Budget and Finances
NJDOE Sends State Aid Notices and Updates to the 2025-2026 Budget Application
State aid notices for the 2025-2026 school year can be found under “School Aid” in the New Jersey Department of Education’s Homeroom portal, the New Jersey Department of Education announced in an advisory.
03/04/2025
Topics: School Budget and Finances
Governor Touts Record Education Spending in Fiscal Year 2026 Budget Address
Gov. Phil Murphy delivered his fiscal year 2026 budget address from the State House on Feb. 25, touting record-high funding for K-12 schools.
