Gov. Murphy highlights record school funding increase in Fiscal Year 2025 proposed budget plan
Plan Would Fully Fund School Funding Formula for the First Time in State History
NEW JERSEY – Governor Phil Murphy and Acting Education Commissioner Kevin Dehmer Thursday visited Charles and Anna Booker Elementary School in Plainfield to highlight $11.7 billion in funding to support equal access to education and opportunity for students across New Jersey in the Governor’s Fiscal Year 2025 budget plan.
“This year’s budget proposal builds on our work to empower students by ensuring they receive the high-quality education necessary to support life-long success,” Murphy said. “Since day one of my Administration, I have remained committed to bolstering New Jersey’s school communities and working toward fully funding our best-in-the-nation public education system. Over the past seven years, we have made strategic investments – maintaining our momentum to fully fund New Jersey’s school funding formula for the first time in our State’s history — because investments in education don’t just benefit our children’s futures, they benefit us all.”
By adding $908 million in K-12 formula aid, the Governor is proposing to fully fund New Jersey’s school funding formula for the first time since it was established in 2009. This funding represents the single largest investment in the budget proposal.
“I am especially honored to be part of this historic budget,” Dehmer said. “For the first time since the School Funding Reform Act began in 2009, our school funding formula will be fully funded. Governor Murphy has never wavered from his promise to support our schools and he has ensured that our students and educators will have the resources they need heading into the next school year.”
District allocations of state aid for all New Jersey school districts may be found on the DOE’s School Finance webpage.
The FY2025 budget plan marks the seventh and final year of the seven-year phase-in to fully funding New Jersey’s school funding formula. This transition was required in a 2018 law, S2, designed to address inequities that had resulted from years of overfunding some districts while failing to adequately meet the needs of other growing districts.
