TOMS RIVER, NJ — The Toms River Regional School District is staring straight at another decrease in state aid, according to the preliminary figures released by the New Jersey Department of Education.
This adjustment is part of the budgetary allocations for the fiscal year 2025, outlined following Governor Phil Murphy’s preliminary budget announcement.
In contrast to most districts set to receive increased funding in the 2024-25 budget, Toms River Regional is experiencing a cut. The allocated amount for the district is roughly $28 million, marking a nine percent reduction from the previous year’s $30 million.
In his budget address, Governor Murphy highlighted the $55.9 billion spending plan for 2025, which notably includes $11.7 billion dedicated to public school funding.
This allocation, according to Murphy, signifies the full funding of the school funding formula for the first time, despite the financial setbacks faced by certain districts like Toms River Regional.
School officials in Toms River would probably disagree.
The news comes just days after state officials announced a funding adjustment for the 2024 budget.