Colts Neck School Funding Gets Big Boost From State

COLTS NECK, NJ — Under proposed state aid to schools, announced in the governor's budget address this week, the Colts Neck district is receiving one of the biggest increases in the state - 98 percent over the last fiscal year.

Colts Neck's K-8 district is slated for $3,633,598, in 2025, a 98 percent increase over its 2024 state aid of $1,835,151.

In his annual budget address to legislators Tuesday, Gov. Phil Murphy noted the overall proposed budget includes the single largest investment in public education in state history.

In Colts Neck, Board of Education President John Camera said the district is "very grateful" for the aid.

"We appreciate that a lot of districts are going thr0ugh a tough time," he said.

But he noted that last year, through a federal funding "glitch," the district did not receive approximately $800,000 in state military aid - aid that would normally have kicked in with the federal funding.

According to the district, it received announcement of the projected 2024-25 State Military Impact Aid in the amount of $1,812,528. It is based on 72 military-connected students and per-pupil military impact aid, the district said.

Projected state aid is district revenue that is considered with all revenue streams including, the board's determination of the tax levy, the district added.

The district provided figures Friday that showed the total (general fund and debt service) estimated tax rate per $100 of assessed value for past several years was: 2023-24: $ 0.7132; 2022-23: $ 0.7719; 2021-22: $ 0.8120; 2020-21: $ 0.8114.

The district, as of 2018, is responsible to educate K-8 students whose families are stationed at Naval Weapons Station Earle. The aid offsets the costs because, as a government facility, it does not pay local taxes, Camera said.

Apart from Colts Neck, another 200-plus school districts should see aid increases in the double digit percentages, according to the state.

The budget would fully fund the state’s school funding formula for the first time, raising public school funding by $908 million to $11.7 billion, according to a recent Patch article on the subject.

Murphy also earmarked funding for expanded preschool access, free school meals and student-teacher stipend and recruitment efforts.

Public hearings and committee meetings will begin before an anticipated balanced budget is due on July 1.

The other districts among the top five in state aid funding increases are:

• Mannington Township, Salem County, $517,067, 112.2 percent
• Maywood Borough, Bergen County, $4,066,732, 105.9 percent
• Stow Creek Township, Cumberland County, $809,415, 77.87 percent
• Weymouth Township, Atlantic County, $1,082,281, 66.15 percent