FREEHOLD TOWNSHIP – The impact of the 2020 coronavirus pandemic on New Jersey’s finances is expected to be felt in the Freehold Township K-8 School District.
The district may see the total amount of state aid that administrators were informed the schools would receive for the 2020-21 academic year reduced by $51,280.
In February, administrators were informed the district would receive $4.66 million in state aid for the 2020-21 school year. Using that amount, they crafted an $83.6 million budget that was adopted by the Board of Education on April 28.
However, on May 29, state officials announced that as a result of the financial impact the 2020 coronavirus pandemic is having on New Jersey’s finances, state aid to schools for the upcoming academic year is being revised.
Freehold Township now expects to receive $4.61 million in state aid for the 2020-21 school year. During the 2019-20 school year, the district received $4.59 million in state aid.