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COSA Off –the-Record Meeting January 2010 State School Fund Update

COSA Off –the-Record Meeting January 2010 State School Fund Update. Michael Wiltfong Oregon Department of Education January 28, 2010. State & federal funding summary in the next 30 minutes:. ARRA update SSF trend Back-of-the-envelope forecasting Forecast for 2010-11 Next biennium.

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COSA Off –the-Record Meeting January 2010 State School Fund Update

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  1. COSA Off –the-Record MeetingJanuary 2010 State School Fund Update Michael Wiltfong Oregon Department of Education January 28, 2010

  2. State & federal funding summary in the next 30 minutes: • ARRA update • SSF trend • Back-of-the-envelope forecasting • Forecast for 2010-11 • Next biennium Oregon Department of Education

  3. ARRA Update On behalf of the department and the Governor’s office, thank you for your cooperation. Recent changes in FTE reporting guidance from the federal Office of Management and Budget – effective December 18, 2009: • FTE is now reported on a quarterly basis, and not on a cumulative basis as previously directed • Examples and updated FAQs are available on the department’s website at the following URL: http://stimulus.k12partners.org/ Oregon Department of Education

  4. State School Fund Estimates I plan to post 2008-09 and 2009-10 updates in the very near future – sorry for the delays. Challenges this year: • Necessity for extensive review due to changes in data collections and programming • District corrections and extending deadlines • Department resources Oregon Department of Education

  5. State School Funds – What to expect in the near future: Trend is usually a good indicator of the future, so let’s look at a few key components of the SSF: • General Fund • Local Revenues • Resident Average Daily Membership (ADMr) • Extended Weighted Average Daily Membership (ADMxw) • Transportation Grant Oregon Department of Education

  6. Oregon Department of Education

  7. Back-of-the-envelope forecasting For every $1 million adjusted in the SSF, there is an approximate adjustment of $1.44 in Total Formula Revenue per Extended ADMw (ADMxw) for school districts For every $100 million adjusted in the SSF, there is an approximate adjustment of $7 in Total Formula Revenue per ADMxw for ESDs School district example: $100M adjustment/$1M = 100 100 X $1.44 = $144 Adjustment = $144 Total Formula Revenue per ADMxw Note: Formula Revenue includes the Transportation Grant Oregon Department of Education

  8. Oregon Department of Education

  9. Summary of previous page Oregon Department of Education

  10. Preliminary SSF forecast for 2010-11 • Even though M66 and M67 passed, we still have the Ending Fund Balance to consider when determining the SSF Trigger • I won’t know the legislatively approved SSF appropriation for 2010-11 when the district-level estimates start in March • I have to be careful when speculating and posting SSF estimates • 2010-11 State School Fund estimates for the districts may be available in late February, but at least by the first Monday in March • There will likely be some adjustment of the funding mix if the $200M SSF Trigger is not fully activated Oregon Department of Education

  11. 2011-13 State School Funds There are a lot of unknown variables to consider for next biennium: • Awaiting PERS decisions on Friday • Pace of economic recovery • Availability of additional federal funding • Possible changes in legislation Oregon Department of Education

  12. Questions? Concerns? Issues not covered that you would like to discuss? Thank you for inviting me. Contact information: Michael Wiltfong Michael.wiltfong@state.or.us (503) 947-5914 Oregon Department of Education

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