Red Bank schools will see a $339,000 increase in budgetary help from Trenton next year, the Christie Administration announced Thursday.
As part of what the state Department of Education called “the largest appropriation of K-12 education dollars in the state’s history,” the two-school Red Bank district will see an increase in state aid of 13 percent, to a total $2.7 million, in the 2013-2014 year, the agency said in a press release.
The entirety of the increase reflects “under-adequacy” funding, a new DOE category of aid designed “to benefit districts that are currently 10 percent or more below” what the state figures it costs to provide students an adequate education.
Approximately $16.8 million under-adequacy aid is to be distributed to 131 districts statewide, with districts receiving an average of approximately $128,000 each. Awards were capped at $500,000 per district.
The district is also slated to receive $4.28 million in pre-K funding, the DOE said.