April 16 Student Investment Account Update

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SIA Update

Thank you for those of you who have been able to attend one of the progress report office sessions over the past few weeks! Our team has appreciated the opportunity to connect and provide technical assistance as you work on the second programmatic and financial progress reports. As a reminder the second progress report is due by April 30, 2021 and covers the reporting period January 1 - March 31, 2021. 

If you’ve not yet had a chance to attend office hours for the progress reports, there are still several opportunities to connect with ODE staff. Please click the links below to sign up for one of the time slots and come prepared with any questions!


This Week's Frequently Asked Questions

Our team has received a number of important questions over the last week that we’re sharing in this week’s message. 

Q: Our district’s indirect rate is less than 5% for other funding streams. Can we still claim up to 5% of SIA funds for administrative costs, which include indirect costs? 

A: Yes, according to Oregon Administrative Rules for SIA funds, districts can charge up to 5% or $500,000, whichever is less, for administrative costs which include indirect costs regardless if their approved rate is lower for other funding streams. 

 

Q: Is there a limit on how much of our SIA allocation we can report as expended in the second progress report? 

A: The second progress report period limit on expenses that can be reported is 70% of grantee’s reduced allocation for 2020-21 school year. The 70% expense limit includes 40% from the first reporting period (July 1 - December 31, 2020) and the additional 30% for the second reporting period (January 1 - March 31, 2021). When ODE reviews the second report, they will add grantee's “First Report $ spent” and the “Second Report $ spent" columns, which combined should not surpass 70%. 

 

Q: Our district is currently working on our SIA plan update to be submitted during the May 1 - June 30, 2021 window. Can you clarify whether board approval is required for SIA plan updates for the 2021-23 biennium? 

A: For the 2021-23 biennium, grantees who received SIA funds will only need to submit a plan update to the original three-year plan. In our Supporting Quality Implementation guidance released in December 2020, we included a preview of what will be required to be submitted for plan updates in Appendix B. As part of the SIA plan update, grantees will be required to provide narrative responses to describe how community engagement has informed either their adjusted or amended plan as ongoing and meaningful community engagement is foundational to the SIA. Since grantees will be updating the original three-year plan that was previously approved by the governing board as opposed to creating a new four-year plan as originally anticipated pre-COVID, the SIA plan update is not required to formally go before the board for approval.


Additional Resources


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Please send any questions or comments to SIAInfo@state.or.us

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