Oregon Statutes 327.294 – School Improvement Fund
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(1) There is established the School Improvement Fund, separate and distinct from the General Fund. Interest earned by the School Improvement Fund shall be credited to the fund.
Terms Used In Oregon Statutes 327.294
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(2) The moneys in the fund are continuously appropriated to the Department of Education for purposes of the grant program created by ORS § 327.297.
(3) Each fiscal year, the department shall distribute:
(a) 95.25 percent of the moneys in the fund as grants to school districts, the Youth Corrections Education Program and the Juvenile Detention Education Program; and
(b) 4.75 percent of the moneys in the fund as grants to education service districts. [2001 c.794 § 2; 2007 c.578 § 2]