SFRA wonks reading this already know that SFRA is a "weighted aid formula" which sets higher spending targets for districts with more at-risk students, eg, students who are older, who are Free & Reduced Lunch eligible, and/or English Language Learners. SFRA wonks know that SFRA also uses "exponential weighting" for at-risk students, which means that there are additional added weights for at-risk students who attend a district that is 40-60% FRL-eligible and a higher weight still if a district is over 60% FRL-eligible.
If you're curious about what the weights actually are, the 2016 Education Adequacy Report provides them.
SFRA uses its weighting formula to create an "Adequacy Budget" for a district, ie, the amount a district should spend in order to provide a "thorough and efficient education."
Under SFRA, if a district's tax base is insufficient to meet its Adequacy Budget, the district receives Equalization Aid to make up the difference under the formula. SFRA's term for a district's tax-levy capacity is "Local Fair Share."
Hence, a district like Asbury Park, whose students are over 90% FRL-eligible, has an actual enrollment of 2,168, but a "weighted enrollment" of 3,563. Freehold Boro has an actual enrollment of 1,673 and a "weighted enrollment" of 2,503.
On the other hand, a district with middle-class or affluent students will have a much weaker weighting. North Caldwell, an elementary-only district whose students are is a very affluent, has an actual enrollment of 651 and a weighted enrollment of 655. Chesterfield, another elementary-only district, but which is more middle-class than North Caldwell, has an actual enrollment is 770 and its "weighted enrollment" is only 788.
This is the formula for Equalization Aid:
Equalization Aid = Adequacy Budget - Local Fair Share.
Well, If you've ever wondered what your district's weighted enrollment is or how high the weighting can inflate a district's enrollment, this Weighted Enrollment Spreadsheet gives you your answers.
The following districts have the 30 largest inflations. Although most of the districts listed here are Abbotts, and some of the non-Abbotts like Wildwood City have strong tax bases, they aren't all Abbotts.
This underscores how rough an approximation for "poverty" the Abbott list is.