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<p class="MsoNormal">Good Morning<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The first payment for the 2017-18 Common School Fund (CSF) has been released and you should see the deposits in your accounts soon. The published report can be viewed
<b><a href="http://www.oregon.gov/ode/schools-and-districts/grants/Documents/Published%20report%202-8-18.pdf">HERE</a>.</b><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">You will likely notice the amount received is less than what we had forecast for this year’s CSF payments. We had initially estimated approximately $70 million in distributions, similar to what was received last year, but the first payment
from State Lands indicates the total payment for this year will be closer to $59 million. The payments from the CSF are based on a running three-year average of the earnings, never touching the corpus of the fund, so sometimes preliminary estimates don’t always
align with actual disbursements. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">We will be adjusting your local revenue forecasts soon and will be rebalancing the State School Fund (SSF) for March’s payment to account for this and other updates. The good news is there are higher than expected property tax revenues
at the mid-year, which will offset the decrease in the CSF revenues and will help to maintain the funding ratio at current levels.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">This ebb and flow of revenue and ADMw adjustments are common in the SSF, so this is not of major concern. We’re just trying to identify what happened and what we’re doing to resolve this issue moving forward to mitigate concern around the
state. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you and let me know if you have any questions.<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.5pt;color:#1B75BC"><img border="0" width="230" height="62" style="width:2.3958in;height:.6458in" id="Picture_x0020_1" src="cid:image003.jpg@01D3A3D5.CFFD6C90"><o:p></o:p></span></p>
<p class="MsoNormal" align="right" style="text-align:right"><i><span style="font-size:12.5pt;color:#1B75BC">Oregon achieves . . . together!<o:p></o:p></span></i></p>
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<p class="MsoNormal" style="line-height:90%"><span style="font-size:12.0pt;line-height:90%;color:#1B75BC">Adam Krein<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="font-size:10.5pt;line-height:90%">State School Fund Coordinator<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="font-size:10.5pt;line-height:90%">OFA | School Finance
<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="font-size:10.5pt;line-height:90%">503-947-5678<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:90%"><span style="font-size:10.5pt;line-height:90%">Adam.krein@state.or.us | www.oregon.gov/ode<o:p></o:p></span></p>
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