Gorham Town Council Considers $53.5 Million School Budget

The Gorham Town Council will hold a public hearing and vote on May 14 on a proposed $53.5 million school budget. The budget, which represents a $3.5 million increase from the current $50 million, includes $600,000 from an unspent fund balance to ease the impact on local taxpayers. The School Committee’s proposed budget raises the portion of the town’s tax rate to pay for education by 9.05%, representing an 80 cent increase per thousand dollars of property valuation. The budget will go to the town’s voters in a validation referendum on June 11.

NJ’s New School Funding Formula: Winners and Losers

New Jersey’s school funding formula has undergone a major revamp, with significant changes in state aid for different districts. While some districts will receive substantial funding increases, others will see reductions. The new formula considers factors such as district size, low-income and special education student populations, and enrollment trends. Wildwood City School District faces a significant funding decline, while Deal experiences a substantial increase. The formula’s complexity includes considerations for student demographics, local tax revenue, and enrollment shifts.

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