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Stabilization Aid

School Districts Get $37M in Stabilization Aid

in Toms River News

The New Jersey Department of Education has announced that 16 school districts will receive $37 million in stabilization aid.

In the fiscal year 2021-2022 state budget, some $50 million was included in stabilization aid grants to assist districts that are adjusting to new funding levels as determined by S-2, the school funding reform measure enacted in 2018.

Districts that experienced a reduction in state aid, or face a structural budgetary imbalance could apply for stabilization aid. The fiscal year Appropriations Act also provides for stabilization aid to military-impacted districts if certain criteria are met.

Three Ocean County school districts were awarded $20.2 million in combined stabilization aid – about 55% of the roughly $37 million that was announced.

Toms River, Jackson, and Brick Township school districts will receive about $7.6 million, $6.5 million and $6 million, respectively, after submitting applications to the New Jersey Department of Education.

Continue Reading on New Jersey School Boards

Toms River Schools Receive $7.6M In Stabilization Aid From State

in Toms River News

TOMS RIVER, NJ — The Toms River Regional School District will receive $7.6 million in stabilization aid from the state Department of Education, officials formally announced Thursday.

The approval of the stabilization aid temporarily eases the financial distress created in the district under S2, the state law that has continuously cut state funding to the Toms River schools since it was signed into law in July 2018.

“Toms River Regional Schools is relieved and extremely grateful for Governor Murphy’s announcement today that our requested $7.6 million in stabilization aid will be provided,” Interim Superintendent Stephen Genco said.

“On behalf of our students and staff, I thank our board members and community supporters who spent time and effort behind the scenes to fight for our district and for Toms River; our team here who thoroughly and successfully developed our comprehensive application for stabilization aid; and of course Governor Murphy, who has heard our collective voice and who has responded. This is indeed wonderful and welcome news,” Genco said.

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