NJ Auditor finds “severe fiscal distress" in Lakewood schools ...

Aug 15, 2023 · The report, from State Auditor David Kaschak and obtained by the Asbury Park Press, pins much of the district’s financial problems on its high percentage of special …

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Lakewood Schools Borrowed Millions From New Jersey And Still …

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Sep 27, 2023 · The Lakewood School District in New Jersey is facing severe financial distress, having borrowed $165 million since 2014 and now seeking an additional $93 million loan from …

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Lakewood Schools Borrowed Millions From New Jersey And Still

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Lakewood schools borrowed millions from New Jersey and still can't pay its bills. app. ... I'm pretty sure that $9 million in busing is a good part of why Lakewood school district is financially …

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State Loans $50 Million To Lakewood Schools, Adding To District's

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What sets Lakewood apart is the makeup of its student enrollment. The district has 5,164 public students and 42,307 private school students. As presented in the 2023-24 district budget, …

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Lakewood Public School District Among Districts ... - The …

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Feb 29, 2024 · The Lakewood Public School district is proposed to see an increase of nearly $1 million for the 2024-2025 school year, according to new information from the New Jersey …

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Lakewood Schools Seek $104 Million State Loan To Help Balance

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“Lakewood school district may be considered a district confronted by severe fiscal distress and could benefit from the creation of an additional state aid category,” state auditor David …

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Lakewood Schools Attorney Made $5M In Six Years As District …

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Oct 9, 2023 · "Fiscal distress" and dents mark school budgets. Lakewood Schools finances have come under scrutiny in recent months as district officials have requested a $93 million state …

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FAQs about NJ Auditor finds “severe fiscal distress" in Lakewood schools ... Coupon?

Could New Jersey create a new funding category for Lakewood School District?

LAKEWOOD – New Jersey's State Auditor has determined that the Lakewood School District suffers from “severe fiscal distress” and would benefit from additional aid, suggesting the state create a new funding category, an internal report shows. ...

Could Lakewood School District benefit from a new state aid category?

“Lakewood school district may be considered a district confronted by severe fiscal distress and could benefit from the creation of an additional state aid category,” state auditor David Kaschak wrote in a July 2023 report. that Lakewood public schools do not receive adequate state funding. ...

Is Lakewood a'severe fiscal distress'?

In the past year, a state appeals court ruled that the New Jersey Education Commissioner must review the funding formula and seek changes for Lakewood, while a state auditor report declared the district was in “severe fiscal distress.” ...

Should New Jersey borrow $93 million from Lakewood School District?

If you’re the state of New Jersey, you apparently would. In this case, the borrower is the Lakewood School District, which says it is so broke it needs to borrow $93 million from the state this year to keep its doors open. That $93 million would be on top of the $165 million the district has borrowed since 2014. ...

Does Lakewood School District have a debt?

LAKEWOOD — As the Lakewood School District continues adding to its mounting state loan debt — requesting another $93 million from Trenton this year — a review of state records finds that no other district has come close to Lakewood’s level of borrowing. ...

Are Lakewood Public Schools strained by state funding?

In March, a state appeals court ruled that Lakewood public schools do not receive adequate state funding to meet their needs. The appeals court declared that the district is “severely strained” by its obligation to provide transportation and special education to thousands of non-public school students. ...