N.J. School Administrators Take Aim at Budget-Cap Law
Strict new state-imposed limits on the budgets of New Jersey school districts are causing concern that districts might have to cut programs or forgo building repairs. Such worries have prompt ed a state lawmaker to introduce legislation to repeal the spending caps.
The budget restrictions, signed into law in July, lowered the ceiling on how much districts’ budgets can grow annually, from 3 percent or the rate of inflation, whichever is greater, to 2.5 percent or the rate of inflation.
The restrictions also force districts to reduce their budget surpluses from a maximum allowable 6 percent of the general fund balance to 3 percent this school year, and 2 percent in 2005-06, and limit per-pupil administrative spending...
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