OAR 581-027-0015
Calculations for Oregon School Capital Improvement Matching Program Funding Formula

(1) The Department shall provide State Matching Grants to Districts from available resources in the Oregon School Capital Improvement Matching Account.
(2) Sixty percent (60%) of the available resources in the Oregon School Capital Improvement Matching Account for a biennium shall be awarded based on the Priority List.
(3) Forty percent (40%) of the available resources in the Oregon School Capital Improvement Matching Account for a biennium shall be awarded based on the order in which applications are received during the application period established by the Department for the Funding Cycle.
(4) The Department shall use a funding formula to determine the amount of State Matching Grant funds each District is eligible to receive from the Oregon School Capital Improvement Matching Account. This funding formula will be used to determine eligibility for State Matching Grants awarded through both the Priority List and First in Time application process.
(5) Districts whose voters pass $4,000,000 or less in Local GO Bonds for District facility projects shall be eligible for a one-to-one match from State Matching Grant funds.
(6) Districts whose voters pass more than $4,000,000 in Local GO Bonds for District facility projects shall be eligible for at least $4,000,000 and no more than $8,000,000 based on the following formula:
(a) The District’s Adjusted Assessed Property Value per ADM as determined by OAR 581-027-0010 (Calculations for Oregon School Capital Improvement Matching Program Priority List) shall be multiplied by the assumed tax rate of 0.001 ($1 per $1000 of assessed property value) to calculate the District’s Estimated Local Bond Revenue per ADM.
(b) The Estimated Local Bond Revenue per ADM shall be subtracted from the Guaranteed Tax Rate Amount to determine the amount of eligible State Matching Grant funds per ADM.
(c) The eligible State Matching Grant funds per ADM shall be multiplied by the District’s Adjusted ADMw to determine the maximum amount of State Matching Grant funds for which a District is eligible.
(7) The Department shall use the lesser of total proceeds from the sale of the Local GO Bonds exclusive of underwriter’s discount and other costs of issuance or the original amount requested by the District as the final basis for calculating the State Matching Grant.
(8) Local GO Bonds used by a District to qualify for the OSCIM Program must be closed within nine (9) months of the date of the election at which the Local GO Bonds were approved.

Source: Rule 581-027-0015 — Calculations for Oregon School Capital Improvement Matching Program Funding Formula, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=581-027-0015.

Last Updated

Jun. 8, 2021

Rule 581-027-0015’s source at or​.us