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Board approves Student Investment Account grant agreement to release allocated funds
Summary
The board approved the Student Investment Account (SIA) grant agreement and staff'reported quarterly and annual reporting requirements; the district's preliminary allocation for the year is about $43 million, with a projected $45 million next year in the biennium.
The Portland Public Schools board approved the Student Investment Account (SIA) grant agreement Dec. 2, enabling the district to begin spending SIA allocations under state rules for investments that support mental and behavioral health, reduce disparities for focal student groups, and increase academic achievement.
District staff presented the grant agreement overview and reporting obligations, including quarterly financial and performance reports to the state and annual reporting to the board. Staff said the current-year allocation is approximately $43 million, with a preliminary projection of $45 million for the following year of the biennium.
The board voted to approve resolution 7225 authorizing the district to enter the SIA grant agreement; the vote was unanimous.
District staff said allowable expenditures and reporting requirements are consistent with the board'approved SIA spending plan previously discussed in committee and that passthrough amounts to community-based organizations and charter partners are included in the agreement language.
Next steps: staff will proceed with SIA-funded programming, submit required quarterly reports to Oregon Department of Education (ODE), and present annual performance and financial reports to the board.
