HOBOKEN– Hoboken’s public school district, one of the 30 districts in the state that gets special aid, could lose 7.7 percent of the additional state funding it gets. State Sen. President Stephen Sweeney and Assembly Speaker Vincent Prieto announced a plan Wednesday June 14 that would increase state funding by $125 million to New Jerseys public school districts.
“The Sweeney-Prieto agreement follows months of hearings by the Senate Select Committee on School Funding Fairness and the Assembly Education Committee on inequities in the state’s school funding formula,” states the press release from Sweeney. “The agreement revamps funding for the 2017-2018 school year, and marks the first time since passage of the SFRA in 2008 that Adjustment Aid will be reallocated from school districts receiving more than 100 percent of the state aid to which they are entitled under the state aid formula to districts that are underfunded.”
Sweeney unveiled a town-by-town list showing decreases and increases in more than 600 districts.
In the plan, 70 districts would receive aid increases, 74 districts would not have their aid affected, and 50 districts receive reductions, such as Hoboken and Jersey City.
If the plan is approved by Governor Chris Christie, Hoboken could see a reduction in state aid of $825,793 and Jersey City could lose $8,545,482.