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Financial Services

Financial Services staff provide accountability to the public for all business operations of the district. Activities include budget management, financial reporting, purchasing, grant management, revenue forecasting, and risk management.

Financial Services

Financial Services

Budgeting

An extension of the financial planning process, the annual budget process matches available financial, material, and human resources to educational programs and services for students. The 2023-24 Adopted Budget represents the district’s sixth year as a recipient of the Association of School Business Officials International’s Meritorious Budget Award.

The 2024-25 budget is in development! To learn more click on “Budget Committee” in the navigation bar above.

Grant Compliance

As part of its financial planning and reporting processes, the district must clearly comply with a variety of grant requirements to ensure appropriate use of funds. Two of the larger grants received by the district are Oregon’s Student Investment Account (SIA) and federal pandemic recovery funds (ESSER).

The Student Investment Account (SIA) was established when the Oregon Legislature passed the $2 billion Student Success Act (HB 3427)  in 2019.

The Elementary and Secondary School Emergency Relief Fund III (ESSER III) provides federal support as described in the American Rescue Plan Act, 2021 (ARP Act).

Financial Reporting

Finance staff provide regular updates to the school board regarding the district’s financial position. Reports are also provided to the Oregon Department of Education and other agencies as required. An independent audit is conducted annually and published as the district’s Annual Comprehensive Financial Report (ACFR).

Doing Business

Finance department staff support individual schools and departments in purchasing goods and services in the most efficient, beneficial, and cost-effective manner. If you are a vendor wishing to do business with the district, you may submit general and introductory information electronically to finance department staff, or respond to any of the district’s formal requests for proposals.

  • Vendor Services
  • Requests for Quotes/Proposals

Construction Excise Tax

In 2007, Oregon legislators passed a law (Senate Bill 1036) intended to help Oregon school districts pay for a portion of the cost of new or expanded school facilities. The bill allows school districts to impose a construction excise tax on certain residential and non-residential development.

These are large documents! It is recommended that readers save the document to their local device and open using Adobe Reader. Paper copies are available for review upon request. Contact jennifer.bentz@corvallis.k12.or.us or 541-757-5874 for more information.

The following Annual Financials are large documents! It is recommended that readers save the document to their local device and open using Adobe Reader. Paper copies are available for review upon request. Contact jennifer.bentz@corvallis.k12.or.us or 541-757-5874 for more information.

Grant Funding

Elementary and Secondary School Emergency Relief Fund III (ESSER III)

The American Rescue Plan Act, 2021 (ARP Act or ARPA) provides federal funding through the Elementary and Secondary School Emergency Relief Fund III (ESSER III or ARP ESSER) to help safely reopen and sustain the safe operation of schools and address the impact of the coronavirus pandemic on students. ESSER III funds can be used for eligible expenses incurred between March 13, 2020 and September 30, 2024.

The ESSER III District Plan builds on learning from our Student Investment Account (SIA) Plan, and provides essential information required by ESSER III. It acts as a structure for collecting and aligning the ESSER III-specific information to support planning and sharing key information with our community and staff.

Integrated Guidance

Based on feedback from educational and community leaders, Oregon Department of Education (ODE) established guidance to integrate six aligned programs:  High School Success (HSS), Student Investment Account (SIA) within the Student Success Act, Continuous Improvement Planning (CIP), Career and Technical Education – Perkins V (CTE), Every Day Matters (EDM), and Early Indicator Intervention Systems (EIIS). Further information regarding ODE’s efforts towards innovation and improvement can be viewed here:  https://www.oregon.gov/ode/studentsuccess/pages/innovation-and-improvement.aspx.

Student Investment Account (SIA)

In 2019, the Oregon Legislature passed the $2 billion Student Success Act (HB 3427). At the heart of the Student Success Act is a commitment to improving access and opportunities for students who have been historically underserved by the education system. The Student Investment Account represents 50% of the Student Success Act funding dedicated for public schools in Oregon.

School districts are required to apply for funds and must demonstrate engagement of the community in a needs assessment process prior to the application for funds. SIA grant funds can be used in four broad areas including increasing instructional time; addressing student health and safety needs; decreasing class size; and expanding well-rounded learning opportunities. Programs must also meet students’ behavioral and mental health needs and increase academic achievement as well as reduce disparities among student groups.

Budget Committee

The Budget Committee has 14 equal members:  seven elected school board members and seven citizens appointed to three-year terms by the Board. These individuals are charged with reviewing the Superintendent’s Proposed Budget, listening to public comment regarding the budget, recommending changes, and approving the budget total and tax rates to be forwarded to the School Board for adoption.

Interested in serving on the Committee?
APPLY NOW

There is one remaining vacancy on the Budget Committee. This is a two year appointment, with a term ending June 30, 2025.  Applicants must live and be registered to vote in the District, and not be an officer, agent, or employee of the District. Positions are non-partisan, unpaid, and not connected to any specific region within the district. Members with expired terms may request reappointment.

 

NOTICE OF BUDGET COMMITTEE MEETING

A public meeting of the Budget Committee of the Corvallis School District, Benton and Linn Counties, State of Oregon, to discuss the budget for the fiscal year July 1, 2024 to June 30, 2025, will take place on Thursday, May 23, 2024, beginning at 6:30 p.m. The meeting will be held in the Lincoln Elementary School Gymnasium at 110 SE Alexander St, and will also be streamed live under the provision of ORS 192.670 at youtube.com/c/CorvallisSchoolDistrict.

The purpose of the meeting is to receive the budget message and to receive comment from the public on the budget. This is a public meeting where deliberation of the Budget Committee will take place. Any person may appear at the meeting and discuss the proposed programs with the Budget Committee. To make public comment at the meeting through virtual participation, please contact jennifer.bentz@corvallis.k12.or.us by noon on the day of the meeting with your name, address, and phone number.

Written testimony related to the proposed budget may also be submitted to the Budget Committee via email to jennifer.bentz@corvallis.k12.or.us or by mail addressed to: Budget Committee, PO Box 3509J, Corvallis, OR 97339. All written testimony must be clearly labeled as public comment related to the proposed budget and received by noon on the day of the meeting.

A copy of the budget document may be inspected or obtained on or after 12:00 noon on May 17, 2024 at the District Office during regular business hours (M-F 8:00 a.m. – 5:00 p.m.). The budget document will also be available on the district’s website at https://www.csd509j.net/departments/financial-services#budget.

The meeting location is accessible to persons with disabilities. A request for the hearing impaired or for other accommodations for persons with disabilities should be made at least 48 hours in advance of the meeting to jennifer.bentz@corvallis.k12.or.us or by calling 541-757-5874.

*Notice provided in alignment with ORS 294.426(5)(b), along with print publication scheduled for May 9, 2024, in the Corvallis Gazette-Times.

2024 Budget Committee Meeting Schedule 

The Budget Committee approved the 2023-24 Budget on May 25, 2023 and the School Board adopted the budget without alterations at it’s June 15, 2023 meeting.

The Budget Committee approved the 2022-23 Budget on May 26, 2022 and the School Board adopted the budget without alterations at it’s June 16, 2022 meeting.

 

Doing Business

Nvoicepay Partnership

The Corvallis School District has partnered with Nvoicepay to facilitate electronic payments to our vendors.

Construction Excise Tax

Construction Excise Tax

What is the Construction Excise Tax (CET)?

In 2007, Oregon legislators passed a law (Senate Bill 1036) intended to help Oregon school districts pay for a portion of the cost of new or expanded school facilities. The bill allows school districts to impose a construction excise tax on certain residential and non-residential development.  Specifically, the tax applies to improvements to real property that result in a new structure or additional square footage to an existing structure. Construction excise taxes are collected on behalf of school districts by regional cities and counties that issue building permits.

Why is a Construction Excise tax needed?

Corvallis School District has 13 schools in operation. We are committed to providing a safe and modern learning environment for our students. The money collected from CET is put into the Construction Excise Tax Fund. This fund provides critical funding and is one part of a larger effort to continually improve our school facilities. This tax will help to bridge the gap between funding provided through the 2018 capital construction bond and additional funding necessary for future improvements.

What does this tax pay for?

The tax pays for capital improvements including land acquisition; construction, reconstruction or improvement of facilities; acquisition or installation of equipment, furnishings or other tangible property; architectural, engineering, legal or similar costs associated related to capital improvements; or the payment of obligations and related costs of issuance that are issued to finance or refinance capital improvements. Oregon school districts that impose a Construction Excise Tax, must develop a long term facilities plan for making capital improvements pursuant to ORS 320.183. Corvallis School District’s Long Range Facilities Master Plan may be found online at www.csd509J.net.

How much is it, who has to pay, and when?

The Corvallis School District CET rate has remained unchanged since its implementation in 2009. The rate is currently assessed at $1.50 per square foot on residential construction and $0.50 per square foot for non-residential construction—with a $25,000 tax limit for non-residential. Effective January 1, 2024 the rates will increase to $1.56 for residential and $.78 for non-residential – with a $39,100 limit. The tax applies to construction permits on property located within Corvallis School District’s jurisdiction. The Oregon Department of Revenue updates CET tax limits annually in July indexed to inflation. The Corvallis School District may update CET rates in the future up to the established statewide tax limit.

Who is exempt from paying the tax?

The following improvements are exempt from the tax pursuant to ORS 320.173.

  1. Private school improvements;
  2. Public improvements as defined in ORS 279A.010;
  3. Residential housing that is guaranteed to be affordable under guidelines established by the United States Department of Housing and Urban Development, to households that earn no more than 80 percent of the median household income for the are an which the construction tax is imposed for a period of at least 60 years following the dated of construction of the residential housing;
  4. Public or private hospital improvements;
  5. Improvements to religious facilities used primarily for worship or education associated with worship;
  6. Agricultural buildings as defined in ORS 455.315 (2)(a);
  7. Facilities operated by non-profit organizations (501[c][3]) that are:
    1. Long term care facilities (defined in ORS 442.015);
    2. Residential care facilities (defined in ORS 443.400); or
    3. Continuing care retirement communities (defined in ORS 101.020);
  8. Residential housing being constructed on a lot or parcel of land to replace residential housing on the lot or parcel of land that was destroyed or damaged by wildfire or another event or circumstance that is the basis for a state of emergency declared under ORS 401.165 (Declaration of state of emergency) or 401.309 (Declaration of state of emergency by city or county) or for the exercise of authority under ORS 476.510 (Short title) to 476.610 (Payment of claims).

In addition to the above statewide exemptions, the Corvallis School District and regional cities/counties have further agreed additional exemptions. Please see the Construction Excise Tax Information Sheet for more details.

If a person or entity believes that they are exempt from Construction Excise Tax they must submit an exemption form to Corvallis School District for review.

CET Exemption Application 

Where can I get more information?

If you have additional questions, you may contact Maria McEldowney, Accounting Manager, at 541-757-3900 or maria.mceldowney@corvallis.k12.or.us.

 

Disclaimer

Financial information provided on these pages is intended to educate, inspire, and inform patrons of the Corvallis School District. These resources alone should not be used for investment purposes.

Questions? Contact Us

Contact


Corvallis School District 509J Business Services
P: 541-757-3859
F: 541-757-5703

Address


1555 SW 35th Street, Corvallis, OR 97333 - Google Map
Mailing Address:
PO Box 3509J, Corvallis, OR 97339

Staff