New Jersey Statutes 18A:7F-53. Calculation of equalization aid
Terms Used In New Jersey Statutes 18A:7F-53
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Commissioner: means the Commissioner of Education. See New Jersey Statutes 18A:1-1
- District: means a school district. See New Jersey Statutes 18A:1-1
EQAID = AB – LSHARE provided that EQAID shall not be less than zero; and
where
AB is the district’s adequacy budget calculated pursuant to section 9 of this act; and
LSHARE is the district’s local share calculated pursuant to section 10 of this act.
Each district’s equalization aid for general fund expenses shall be expended to provide a thorough and efficient system of education consistent with the core curriculum content standards established pursuant to section 4 of this act.
A school district may make an appeal to the commissioner on the amount of its equalization aid on the basis that the calculation of income within the local share formula under section 10 of this act does not accurately reflect the district’s income wealth.
L.2007, c.260, s.11.