Oregon’s K-12 public schools are set to receive a record-breaking amount of $74.2 million from the Common School Fund in 2024, according to state officials. This allocation marks the highest distribution ever made from the fund, surpassing the previous year’s amount by $2 million.
The Common School Fund plays a vital role in supporting Oregon’s public school districts, with each of the state’s 197 districts receiving funding based on the number of students they serve. The average distribution for 2024 is approximately $376,000 per district.
The Astoria School District is expected to receive around $230,000 from the Common School Fund, while the Bend La-Pine Schools will receive approximately $2.3 million. As the largest school district in the state, Portland Public Schools will receive $6.4 million in 2024, reflecting the significant number of students it serves.
The establishment of the Common School Fund dates back to Oregon’s statehood, when the federal government granted the new state nearly 3.4 million acres for the purpose of supporting schools. The fund is managed by the State Treasurer and the Oregon Investment Council, who invest it to generate returns.
Over the three-year period ending in December, the Common School Fund achieved an average return of 5.4%. These returns contribute to the growth of the fund and enable larger distributions to be made to support Oregon’s public schools.
The $74.2 million distribution for 2024 not only represents a historic milestone but also highlights the state’s commitment to investing in the education of its students. The increased funding will provide additional resources to schools, helping to enhance educational programs, support teachers, and improve overall learning environments.
The announcement of the record-breaking distribution from the Common School Fund demonstrates Oregon’s dedication to prioritizing and strengthening its public education system. By investing in schools, the state aims to provide students with the necessary tools and opportunities to succeed academically and prepare for their future endeavors.
As the funds are allocated, school districts across Oregon will have the opportunity to assess their specific needs and determine how best to utilize the additional resources. The increased funding will undoubtedly have a positive impact on the quality of education provided to students throughout the state.
The record-breaking distribution from the Common School Fund in 2024 reflects Oregon’s ongoing commitment to investing in the future of its students. By providing substantial financial support to public schools, the state aims to foster a strong and thriving educational system that prepares students for success in an ever-changing world.
