Or. Admin. Code § 581-014-0004 - Fund Administration for Student Investment Account
(1)
For each biennium, the Oregon Department of Education will determine the amount
of grant funds from the Student Investment Account to be apportioned among
eligible applicants.
(2) For
purposes of establishing the amount of grant funds apportioned to eligible
applicants, the Oregon Department of Education will use the most current
finalized ADMw from the State School Fund from the year prior to the start of
each biennium.
(3) If an eligible
applicant experiences an increase in their K-12 student enrollment, they may
submit a request for recalculation to the Oregon Department of Education by
April 30 of each even numbered year.
(4) If a school district has an ADMw of 50 or
less, it will receive an allocation based on an ADMw of 50.
(5) If an eligible applicant does not apply
for a grant from the Student Investment Account by the close of the application
period, the amount of their grant funds will revert to the Student Investment
Account and be reallocated within the grant award cycle. An eligible applicant
that does not apply for a grant will be eligible in the next application
process for the Student Investment Account.
(6) Following approval of the grant
agreement, an eligible recipient will receive payments of at least 12.5 percent
on a quarterly basis per biennial allocation. If adjustments to installment
payments are required, a lower percentage may be used.
(7) Grant recipients will be eligible to
expend funds until June 30 of year two of the biennium. Any allocated funds
that are not used by a grant recipient by June 30 of year two of the biennium
will be returned to the Student Investment Account for distribution in the next
biennium.
(8) Funds received by a
grant recipient under this section must be separately accounted for and must be
used in accordance with the recipient's grant agreement for the Student
Investment Account. A grant recipient may use funds for administrative costs,
including indirect costs, directly related to allowed expenditures as provided
in the grant agreement. Administrative costs are limited to five percent of the
total expenditures or $500,000 annually, whichever is less. Any administrative
costs incurred by a participating charter school must be accounted for within
the sponsoring school district's overall limit of five percent or $500,000,
whichever is less.
(9) The Deputy
Superintendent of Public Instruction shall resolve any issues arising from the
administration of the Student Investment Account grants not specifically
addressed by this rule. The Deputy Superintendent of Public Instruction's
determination shall be final.
(10)
In the case of a public charter school closure that impacts a sponsoring
district's allocation, the Department will determine the best way to
reapportion funds based on the timing of the closure, context, and
communication with the closing charter school and the sponsoring district. The
Department may;
(a) Allocate what have been
apportioned to the charter school to the sponsoring district at the same time
as the district allocations are made.
(b) Allocate what would have been apportioned
to the charter school to the charter schools successor entity.
(c) Return the apportioned amount to the
Statewide Education Initiatives Account for reallocation in a subsequent fiscal
year.
Notes
Statutory/Other Authority: ORS 327.175 - 327.235
Statutes/Other Implemented: ORS 327.175 - 327.235
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(1) For each biennium, the Oregon Department of Education will determine the amount of grant funds from the Student Investment Account to be apportioned among eligible applicants.
(2) For purposes of establishing the amount of grant funds apportioned to eligible applicants, the Oregon Department of Education will use the most current finalized ADMw from the State School Fund from the prior year.
(3) If a school district has an ADMw of 50 or less, it will receive an allocation based on an ADMw of 50.
(4) If an eligible applicant does not apply for a grant from the Student Investment Account by the close of the application period, the amount of their grant funds will revert to the Student Investment Account and be reallocated within the grant award cycle. An eligible applicant that does not apply for a grant will be eligible in the next application process for the Student Investment Account .
(5) Following approval of the grant agreement, an eligible recipient will receive payments of at least 25 percent on a quarterly basis per annual allocation. If adjustments to installment payments are required, a lower percentage may be used.
(6) Grant recipients will be eligible to expend funds until June 30 of each year. Any allocated funds that are not used by a grant recipient by June 30 each year will be returned to the Student Investment Account for distribution in the next biennium.
(7) Funds received by a grant recipient under this section must be separately accounted for and must be used in accordance with the recipient's grant agreement for the Student Investment Account . A grant recipient may use funds for administrative costs, including indirect costs, directly related to allowed expenditures as provided in the grant agreement. Administrative costs are limited to five percent of the total expenditures or $500,000 annually, whichever is less. Any administrative costs incurred by a participating charter school must be accounted for within the sponsoring school district's overall limit of five percent or $500,000, whichever is less.
(8) The Deputy Superintendent of Public Instruction shall resolve any issues arising from the administration of the Student Investment Account grants not specifically addressed by this rule. The Deputy Superintendent of Public Instruction's determination shall be final.
Notes
Statutory/Other Authority: ORS 327.175 - 327.235
Statutes/Other Implemented: ORS 327.175 - 327.235