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SIA Update
In this week’s special SIA message, the team is sharing key updates around the 2021-2023 estimated allocations and further information regarding the Annual Report.
2021-2023 Estimated Allocations
As shared in the July 9th SIA weekly message, for the 2021-23 biennium, the Student Investment Account has been funded by the Legislature at $892 million, receiving 53.8% of the funding available* from the Corporate Activity Tax. The SIA team would like to share the final estimated allocations for Year 1 and Year 2 of the 2021-2023 Biennium. Please note, these numbers will look different than the preliminary allocations that were released in March, and were used to submit your two year budget for the recent SIA Plan Update. We do not expect Districts or Charters to submit any budget updates at this time, as it pertains to this change in funding. This change in funding will be accounted for during the first quarter report due October 31, 2021.
*Per statutory law, available is determined as CAT resources in the Fund for Student Success after the required transfer to the State School Fund and retention of a funding reserve.
If you have any questions about your allocation, please reach out to the SIA team at SIAinfo@state.or.us.
The annual report is a chance to pull back and reflect on the whole of what you've learned and any impact you are seeing. It’s also an opportunity to share an update with your students, parents, and community.
Our team has developed this SIA Annual Report Template, which you can use as a tool to start working on your narrative responses to the four required questions and the fifth optional question prior to submitting via Smartsheet. We anticipate the Smartsheet, where you’ll submit the annual report questions, will be released on August 1. As you review the template, you might notice some overlap from quarterly report questions to the annual report. That is intentional. If you see patterns from quarterly reports we'd welcome you to carry them over into the annual report.
Section 15 of HB 3427 requires grantees to complete a progress review on an annual basis. The annual report serves as the progress review for this first year of implementation. In order to complete the progress review, three steps need to be taken:
- The annual report must be posted to the grantee’s webpage;
- The annual report must be presented at an open meeting with the opportunity for public comment (not a consent agenda item); and
- The annual report must be approved by the governing board.
The annual report is due alongside the third progress report, covering the period April 1 - June 30, 2021 for those without a summer extension and April 1 - September 30, 2021 for those with a summer extension. For grantees without a summer extension, the third progress report, annual report, and board meeting minutes are due by August 30, 2021; however in recognition of the summer deadline, we’re offering a 30-day extension for any grantee who needs it. For grantees with a summer extension, the third progress report, annual report, and board meeting minutes are due by November 30, 2021.
As we wrap up the SIA foundational year, in which districts and charters engaged their communities, applied equity lenses, and began implementing activities to reduce student focal group academic disparities and improve mental and behavioral health, the SIA team looks forward to learning more about progress, changes, and challenges through the SIA Annual Report.
If you have any questions about the annual report, please reach out to the SIA team at SIAinfo@state.or.us.
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Please send any questions or comments to SIAInfo@state.or.us.
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