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Gov. Murphy's Revised FY 2021 Budget Proposal Does Not Cut K-12 Aid

Gov. Murphy's Revised FY 2021 Budget Proposal Does Not Cut K-12 Aid

• The budget includes a nearly $4.9 billion contribution to bolster the state pension system, which equals 80 percent of the Actuarially Determined Contribution (ADC) and represents the largest percentage of the ADC contributed in 25 years. • The Budget includes a robust $2.2 billion surplus, which represents 5.6 percent of appropriations over the 12-month period. The Governor is committed to maintaining this surplus to address the very real possibility of another shutdown due to a resurgence of the novel coronavirus.