BOE: School Aid Increase Will Be Used For Tax Relief In Next Budget Cycle

The school district will be utilizing the hundreds of thousands in extra state aid towards tax relief in 2012-13, School Board President Jack Martenak confirmed.

In July, the state announced that school districts throughout New Jersey would be receiving additional state aid. Lacey will be getting $612,489 more than originally expected.

The state aid will be included on the revenue side of the budget, Martenak said.

“It will be used in the budget but in essence it is for tax relief because without it taxes would go up,” Business Administrator Jim Savage said.

The school district did not get the chance to use the additional state aid in the upcoming school year’s budget because they were not given the time to make amendments, Martenak said. The deadline to adjust the tax levy was Tuesday, July 19, just eight days after the state aid was announced.

In February, the state announced that , a one-year increase of $612,488. Lacey Township is now slated to receive $20,780,222, which is $1,224,977 more than last year.

Below are the state aid figures for the Lacey Township School District:

• 2010-2011 Total Aid: $19,555,245
• Governor's Budget 2011-2012 Total Aid: $20,167,733
• Additional Aid 2011-2012 Approp. Act: $612,489
• Equalized Aid: $17,965,107
• Education Adequacy Aid: $0
• Choice Aid: $0
• Transportation Aid: $0
• Special Education Categorical Aid: $2,352,617
• Security Aid: $462,498
• Adjustment Aid: $0
• Revised 2011-2012 Total Aid: $20,780,222
• One Year Aid Change: $1,224,977