The Lakewood Public School District is slated to receive an increase of more than $1.75 million in state aid for the 2026–2027 school year under Governor Mikie Sherrill’s proposed budget, according to newly released figures from the New Jersey Department of Education.

The proposed $1,751,628 increase would bring Lakewood’s total state aid to $30,945,430, and is a small fraction of the record $12.4 billion in state aid for K-12 education in the governor’s budget.

The proposal comes as New Jersey continues to adjust to the full implementation of the state’s school funding formula, which lawmakers approved in 2018 to address long-standing disparities in aid distribution.

The heavily criticized formula overhaul, enacted through legislation known as S2, aimed to correct years in which some districts received more funding than the formula called for while others — particularly growing districts — were underfunded.

While many districts across the state are seeing increases as the formula reaches full implementation, others will continue to experience reductions.

This transition was required in a 2018 law, S2, designed to address inequities that had resulted from years of overfunding some districts while failing to adequately meet the needs of other growing districts.

In neighboring Jackson, where recent budget pressures have forced the district to sell school buildings to help close a growing deficit, the proposed budget calls for a $680,999 decrease in state aid compared with last year.

Overall, 167 school districts around the state are facing cuts compared to last year’s budget.

The governor’s budget proposal, which needs to be approved by the Legislature, marks the third year in a row in which New Jersey’s school funding formula is fully phased in.