July 25, 2012 12-16
For immediate release
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Oregon schools receive nearly $24 million from state’s Common School Fund
payments provide local funds for districts
Salem – Oregon’s K-12 public school districts received the
second of two 2012 Common School Fund payments of $23,993,167 on July 17. The
State Land Board, composed of the Governor, Secretary of State and State
Treasurer, oversees the fund, which was established at statehood to provide
funding from state lands for Oregon’s “common” – or public – schools.
The Department of State Lands (DSL) transmits funds each
December and June to the Department of Education for distribution to the
state’s 197 school districts. DSL Director Louise Solliday said the board’s
long-range goal is to significantly increase revenue into the Common School Fund
through strategic land-management actions, including investments in industrial,
commercial and residential lands.
“The Land Board recently
approved an updated Real Estate Asset Management Plan that lays out strategies
to ensure a consistent and growing stream of revenue for schools,” said
Solliday. The plan also supports balancing revenue generation with resource
stewardship, she said.
The Constitution requires the Land Board to manage lands
under its care to obtain the greatest benefit for Oregonians, consistent with
conservation values and prudent land management techniques.
State Treasurer Ted Wheeler, one of three members of the
Land Board, and the Oregon Investment Council invest the fund. By law, the state dedicates the funds for
“support and maintenance of common schools in each school district.” The population of children ages 4-20
determines each county’s share of the earnings.