More Money For Wayne Schools Included In 2024 Budget: See How Much

WAYNE, NJ — The Wayne Township School District is slated to see a $1.76 million increase in funding next year, according to figures released Thursday by the New Jersey Department of Education.

Gov. Phil Murphy's proposed budget for Fiscal Year 2024, which he introduced Tuesday, includes $10.8 billion in aid for K-12 public schools.

Under the proposal, Wayne Township Public Schools would get $10,517,516, which is a 20.16 percent increase over this year's amount of $8,752,880.

Property taxes in New Jersey are made up of three parts: school, municipal and county. State aid is meant to ameliorate funding gaps at school districts throughout New Jersey.

The aid is an influential factor in a school district's share of property taxes. Many districts say that cuts, or even flat spending, force them to raise taxes for local homeowners. While Murphy's budget is merely a proposal, the state-aid figures provide school districts with a roadmap for developing their 2023-24 school year budgets.

The state budget isn't final. The State Legislature has several months to make adjustments. Lawmakers must approve a balanced budget for the governor's signature before July 1, when the new fiscal year begins. Read more: Tax Relief, Debt Service, Transit Fare Freeze: 3 NJ Budget Takeaways