Point Pleasant Borough Schools Set For State Aid Cut For 2023-24

POINT PLEASANT, NJ — The Point Pleasant Borough School District is set to lose nearly $255,000 in state aid under figures for the 2023-24 school year announced by the New Jersey Department of Education on Thursday.

The Point Pleasant district received $3,822,214 in the 2022-23 school year, and is slated to receive $3,567,363 for 2023-24, a reduction of $254,851, or 6.67 percent, according to the education department.

The cut comes as Gov. Phil Murphy touted a $1 billion increase in overall school funding in his 2024 budget address on Tuesday. Much of that funding has been directed at what Murphy said are underfunded school districts. It also comes as the state holds a $10 billion surplus.

Point Pleasant has been one of more than 150 school districts that have been subjected to state aid cuts since 2018 under S2, which aimed to remove aid from districts considered to be "overfunded" under the School Funding Reform Act.

Assemblymen Greg McGuckin of the 10th District criticized the cuts, saying, "Murphy touts his historic school funding, but it is costing 30 percent of New Jersey’s schools millions of dollars a year."

"All children deserve a thorough and efficient education, but Murphy’s budget and funding formula picks winners and losers," McGuckin said. "Increased funding for schools shouldn’t come at the expense of other children’s education."