School districts across New Jersey are doing some under-the-table high-fives as they cling to the life raft tossed to them yesterday by Governor Corzine in his Budget Address. While no one will know details til late today, it appears that the worst scenarios will stay on paper. Based on the text of the speech, districts will see a slight increase in state aid and maybe even some preschool money.

Marie Bilik, Executive Director of NJSBA told the Asbury Park Press,

An increase in state aid will help maintain education programs for school children. It can also buffer homeowners from sharp increases in school property taxes.

Richard Bozza, Director of the NJ Association of School Administrators told the Star-Ledger that “this is really good news for the state of education in New Jersey,” and Lynn Strickland of the Garden State Coalition of Schools expressed “a general sigh of relief from districts that they are not getting cut.”

There will also be more money for existing preschools in Abbott districts and maybe some more for new programs, though details are unclear.

There’s something to be said for low expectations. With many districts bracing for anywhere from 2% to 10% cuts in state aid, even flat funding sounds pretty good. Of course, flat funding means making cuts in school budgets anyway. A district’s mandatory spending — staff salaries and benefits, transportation, energy — account for upwards of 85% of expenditures. With average salaries up between 4% and 5%, just keeping a budget flat means either raising taxes or making cuts. But, hey, it could be worse. Let’s have a high-five.