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TRENTON – Legislation signed by Gov. Phil Murphy March 15 aims to help school districts restructure their finances amid the ongoing pandemic.
The Press of Atlantic City reported that the legislation permits an increased surplus for districts – up to 4% from 2% – for the 2021-2022 academic year. The bill also allows districts to use or re-allocate funds between line items and categories, without the state commissioner of education’s consent.
The bill, officially named S-2691/A-4310, according to the governor’s website, is sponsored by New Jersey Legislature members Greenstein, Pou, Turner, Benson, Dancer and Houghtaling.
The deadline to approve budgets for the academic year is May 14.
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