[Busmgrs] 2009-10 Preliminary Facility Grant Payments

[WILTFONG Michael]

Just a brief message to let you know:

The preliminary estimates for the 2009-10 Facility Grant payments are available at the following URL: http://www.ode.state.or.us/search/page/?id=1363

I will be including your 2009-10 Facility Grant payments in your March 2010 State School Fund payment. If you should have any concerns, please respond to this email prior to noon on March 11, 2010.

As you'll see there was a lot of new classroom construction in the last year, which has caused the payment rate to drop compared to recent years. Releasing half of the $25 million dollars in the first year still only resulted in a preliminary year-1 rate of 2.706%. And depending on the amount of construction next year ~if the total amount in year 2 exceeds the $461,838,148 in year 1~ the current year-1 rate will be decreased accordingly as the payment is based on the biennium total, so please be aware of this potential.

If you should have any further questions, please respond to this email.

Thank you,

Michael Wiltfong
School Finance Unit
Oregon Department of Education
michael.wiltfong at state.or.us




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