[Busmgrs] Recent federal announcement regarding a $74 million award to Oregon

[WILTFONG Michael]

To: District Business Managers and Superintendents:

Recently there have been a few announcements in the media about an additional $74 million in federal funds for Oregon under the American Recovery and Reinvestment Act (ARRA). Please note these are not in addition to the federal funds already incorporated into the budgets for 2009-10 and 2010-11 by the 2009 Oregon legislature.

These funds are part of Oregon's original $570 million award from the State Fiscal Stabilization Fund (SFSF). There actually are two components of the SFSF award (i.e., sub-funds): $466 million from the Education Stabilization Fund and $104 million from the General Services Fund (used for the Department of Corrections budget).

Prior to the recent award of $74 million, Oregon had been formally awarded $392 million from the Education Stabilization Fund. This $74 million brings the amount formally awarded to Oregon by USED to $466 million, the total Oregon is eligible to receive from the Education Stabilization Fund.

The $74 million award was contingent upon successfully submitting a Phase II application for the State Fiscal Stabilization Fund. Oregon submitted its application in January of this year. The U.S. Department of Education recently notified us the application has been approved and, as a result, several announcements about the $74 million award came out.

Again, these monies are not in addition to the funding already incorporated into the K-12 budget approved by the 2009 legislature.

If you have any questions, please don't hesitate to contact the Department.

Regards,

Michael Wiltfong
State School Fund Coordinator
K-12 SFSF Grant Manager
School Finance Unit, Director
Oregon Department of Education
michael.wiltfong at state.or.us




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