[Busmgrs] July 2016 Common School Fund Payment

[ELLIOTT Michael S - ODE]

Dear Business Managers,

I have posted the Common School Fund Payment for July to the web. You can view here: http://www.ode.state.or.us/services/ssf/misc/2015-16-csf-by-district-july-7-20-16.pdf. Everyone should have already received the actual payment.

You may be aware that this payment is significantly more than the payment you received in January. That is not a math error, that is actually correct. As you may be aware, the State Land Board was asked to increase the distribution from 4% to 5% for the 2015-17 biennium. However, the State Land Board wasn't able to vote on this increase until the April meeting where they approved the increase. The Department of State Lands wanted to get as much money to the district as soon as possible. Thus, they provided the full amount of the 2015-16 increase in the second payment of the Common School Fund. That is why this payment is higher than the January Payment.

The 2016-17 payments will have the increase in distribution spread equally between each payment and so should be closer in size to each other as has been the case in the past.

Please let me know if you have any questions, and I hope to see everyone in Bend tomorrow.

Michael

Michael Elliott
School Facilities Coordinator | Office of Finance & Administration|School Finance & School Facilities| Oregon Department of Education
Office: 503.947.5627 | Fax: 503.378.5156 | *michael.s.elliott at state.or.us

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://omls.oregon.gov/pipermail/busmgrs/attachments/20160726/7500cb5f/attachment.html>