Now that the state released school aid figures for the next fiscal year, districts around New Jersey are learning whether they're on the winning or losing end.

The majority, nearly 70%, will see a boost in their funding, while about 30% will see a cut under the Murphy administration's budget plan.

But there is one notable difference this year a change to the school funding formula intended to help districts keep their numbers stable from year to year.

But will it?

Senior correspondent Joanna Gagis takes a look at next year's hole.

After we got the 1.69 million is still we're still short $22.5 million moving into next year, which is catastrophic.

Toms River Regional School District finally found itself in the green for the first time since the s two school funding bill was passed.

They've been on the losing end of the equalization in state aid per pupil.

Calculate it in part by each municipalities local fair share.

I think the most confusing part of the formula is the calculation of the district's local fair share, which is just by its nature, confusing and difficult to parse, difficult to predict.

It's based in part on the property values and tax rate tables in the municipality.

This year, South Brunswick saw a 15% increase to its local fair share responsibility.

But by law, no district can raise their property taxes past the 2% cap that was put in place under Governor Christie.

Last year's local fair share, which was the number that determines how far off you are from from what you should be collecting in one year, that number went from 142 to 166.

So just logically, how can a district who was supposed to collect 142 million and year one who couldn't collect that because of the 2% now with a 2% cap the following year, how could we collect 166 million?

Like there is no way to do it.

Superintendent Scott Feder says even if they went beyond the 2%, they still couldn't close that gap, and it means a loss of 3% to their overall state aid this year.

Last year, some districts were allowed to increase property taxes beyond the 2% to help close massive gaps in state aid.

Toms River was one of them.

Last year we went into the school year with a $26.4 million hole, which was filled with the state, raising the taxes in Toms River by 10% because our board did not pass a budget, and then us having to come up with $12.4 million, by so liquidating assets in this district just to survive this fiscal year.

Last year, many districts that lost funding were given supplemental aid, but it wasn't counted towards their allocation this year, meaning they lost that funding.

But this year, guardrails were added to the school funding allocation by Governor Murphy and the Department of Education, capping the losses a district could face at 3% and the gains at 6%, with a few exceptions.

For specific funding allocations above that 6%.

And they've changed how tax rate tables are considered.

So they have made some changes to that formula that will make things a little bit more stable for school districts.

So instead of using just one year of income and one year of property to determine how much of the adequacy budget should be funded with local taxes, they're using a three year average.

Senate Education Committee Chair Vin Gopal supports these changes, but says there's more work to do.

I think we're still waiting for a little bit more clarity.

We should also be in a place where there are not swings anymore in the formula, and we're still seeing swings.

Do we need to change the calculation rather than increasing property taxes?

Is it a matter of how we're calculating?

What's the fair share minimum?

We should be doing a five year average.

There should be a there should be a more accurate formula.

I mean, to do it year by year is why we have these swings.

I think a five year average would help a lot.

It's something we're going to look to put back into our bill.

The formula this year did increase aid for mental health programs, special education and transportation.

Gopal has introduced a bill that would also include a change to the funding calendar and show a $1 for dollar funding calculation for each district on the deal website.

And he says the state should absolutely count the supplemental aid that districts received toward their total state aid amount.

For NJ Spotlight News, I'm Joanna Gagis.