(1) Funds due school districts under ORS 327.008 and 327.013 shall be paid approximately 16-2/3 percent on July 15, approximately eight and one-third percent on the 15th day of each of the months of August, September, October, November, December, January, February, March and April and the balance on May 15. An equitable apportionment based on the most recent data available shall be made on the installment dates prior to May 15. If such payments are too high or too low, appropriate adjustments shall be made in the May 15 payments. However, if the reports required by ORS 327.133 have not been received from any district when due, no further apportionments shall be made to such district until such reports are filed.
(2) If the combined estimated level of ADMw under ORS 327.013 (7) of all school districts is less than the statewide projected level of ADMw, the Department of Education may:
(a) Adjust the distributions to school districts on the installment dates to reflect the difference; and
(b) Set aside an amount of the funds appropriated to the State School Fund for the fiscal year until the May 15 distribution. [Amended by 1953 c.108 §3; 1957 c.612 §14; 1959 c.388 §12; 1965 c.100 §24; 1975 c.196 §1; 1977 c.280 §1; 1977 c.840 §8; 1981 c.678 §9; 1983 c.610 §7; 1991 c.780 §16; 1997 c.821 §18; 2002 s.s.1 c.4 §1; 2002 s.s.4 c.1 §1]
Section: Previous 327.082 327.085 327.090 327.091 327.092 327.093 327.094 327.095 327.097 327.099 327.100 327.101 327.102 327.103 327.105 NextLast modified: August 7, 2008