Everything in this post I say about categories of debt getting the lion's share of new money remains still accurate.
|The Garden State|
Since state aid for 2016-17 was $8,031,337,333, the increase is an imperceptible 4 one-thousandths of a percent. 2016-17 was a bad year too, but at least in that year K-12 aid increased by $90 million.
- TPAF funding is increasing by $411 million.
- Post-retirement medical funding for teachers is increasing by $69.9 million.
- Debt Service on Christie Whitman's Pension Obligation Bonds is increasing by $15.4 million.
- Debt service aid (which goes directly to districts) is increasing by $17.4 million.
State Debt Servicing, which is for the bonds the Economic Development Authority floated for (mostly Abbott) construction is increasing by $20.5 million from $898.3 million to $918.8 million.
New Jersey's expenses for teachers Social Security is actually falling. Perhaps this is due the 2016-17 budget cuts meaning that there are now fewer teachers?
Because TPAF and other education debt expenses increased so much, education spending (broadly defined as opex aid and other education-related expenses) is now 39% of the state budget versus only 31% of the budget in 2001. (FY2018 = $13.8 billion out of $35.5 billion)
|Click to Enlarge.|
Source, pg 41
And for comparison's sake, here is where the increase for 2016-17 went. (the graph refers to "proposed increases," but these proposed increases actually were implemented.)
As you can see, it's the same story.