Salem, Oregon– In an earlier announcement today, state officials revealed that Oregon’s K-12 public schools are set to benefit from a historic allocation of $74.2 million from the Common School Fund in 2024. The distribution marks the highest-ever sum directed towards the state’s education system, underscoring a steadfast commitment to enhancing educational resources statewide.
The Common School Fund, a cornerstone of Oregon’s educational financing, distributes funds to all 197 public school districts annually, with the amount contingent on the student population served by each district. This year, the average distribution stands at approximately $376,000, providing vital support for diverse educational needs across the state.
Michael Hisler, a dedicated educator at Roosevelt High School in North Portland, lauded the significance of the Common School Fund, emphasizing its pivotal role in bolstering classroom resources. “The Common School Fund consistently contributes critical funding for Oregon classrooms,” stated Hisler. “Every district receives those dollars, empowering educators to address the specific needs of students statewide.”
Established since statehood, the Common School Fund traces its origins to a federal grant of nearly 3.4 million acres designated “for the use of schools.” Managed by the State Land Board, these school lands generate revenue, which is then allocated to the Common School Fund. With its current valuation standing at $2.3 billion, the Fund is prudently invested by the State Treasurer and the Oregon Investment Council, yielding an average 5.4 percent rate of return over the past three years.
State Treasurer Tobias Read expressed satisfaction with the Fund’s performance under Treasury management, highlighting its sustained growth. “We’re incredibly pleased with the Common School Fund’s performance in recent years,” remarked Treasurer Read. “These sustained returns will enable us to allocate a record-setting amount to Oregon public schools, fostering positive outcomes for students statewide.”
Annually, 3.5 percent of the Fund is disbursed to schools, with the 2024 distribution of $74.2 million surpassing previous records. This allocation represents a $2 million increase from the 2023 distribution and a $10 million surge from the 2022 distribution, signaling a significant uptick in support for Oregon’s education sector.
Currently, approximately 681,000 acres of school lands across all 36 Oregon counties are managed by the Department of State Lands (DSL) on behalf of the State Land Board. DSL plays a pivotal role in overseeing these lands, collaborating with various stakeholders to ensure their responsible utilization and preservation for future generations.
Here are the amounts metro and regional school districts will receive:
Ashland SD 5: $339,114
Butte Falls SD 91: $1,985
Central Point SD 6: $634,659
Eagle Point SD 9: $561,098
Grants Pass SD 7: $783,548
Medford SD 549C: $1,800,481
Phoenix-Talent SD 4: $304,022
Three Rivers SD: $613,118
Vicki L. Walker, Director of the Department of State Lands, underscored the enduring legacy of school lands and the Common School Fund as vital revenue sources for Oregon’s students. “Since 1859, Oregon students have relied on school lands and the Common School Fund for support,” stated Director Walker. “DSL remains committed to safeguarding this legacy through innovative land management practices.”
Source: State of Oregon
