The State of New Jersey has agreed to help Salem County’s Elmer School District with its $700,000 deficit by way of a financial monitor and some money.
A meeting late last month with the Commissioner of Education and Senate President Stephen Sweeney, the state agreed to loan the district money to cover the gap, on the condition the money be repaid within 10 years, Today’s Sunbeam reports.
Without help, the district considered closing Elmer School. Though the loan will keep the district afloat, no long-term plan has been worked out. The budget proposal (with a $141,290 increase) is slated for public vote April 27.
Feed the Feed: Is it a good idea for state to bail out schools?