The Lakewood School District is set to receive a $1.65 million increase in state aid next year under Governor Phil Murphy’s proposed Fiscal Year 2026 budget, according to newly released figures.
The data, which details K-12 formula state aid allocations for Legislative District 30, shows that Lakewood Township’s funding will rise from $27.54 million in FY25 to $29.19 million in FY26—a 6% increase. This boost in state aid is a welcome development for the district, which has long faced financial struggles due to its rapidly growing student population and rising transportation costs.
Lakewood is not the only one in the 30th District seeing changes in school aid under the proposed budget.
Several districts, including Avon Boro, Belmar Boro, Wall Township, and Lake Como, will also receive a 6% increase in funding. Wall Township, for example, will see its state aid rise by $348,640, while Avon Boro will gain $9,313 in additional funding.
However, not all districts will see an increase. Freehold Regional High School District and Howell Township Schools are facing a 3% cut in aid, losing $916,507 and $663,566, respectively. Similarly, Farmingdale Borough will see a 3% decrease, with a $17,673 reduction in aid.
Some districts, including Monmouth County Vocational Schools and Ocean County Vocational Schools, will maintain the same level of funding as last year.
District Aid Changes at a Glance:
- Increases (6%): Avon Boro, Belmar Boro, Wall Township, Lake Como, and Lakewood Township
- Decreases (-3%): Freehold Regional, Howell Township, Farmingdale Borough
- No Change: Monmouth County Vocational, Ocean County Vocational
Overall, total funding for Legislative District 30 will increase by $474,180, a 0.5% rise from the previous year.