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Superintendent Report: Eagle Point School District
February 26, 2025
Find the EPSD9 Community Newsletter HERE!
Classified Employees Week:
On behalf of the EPSD9 administrative and certified staff and students, I would like to recognize our classified employees for their hard work at Eagle Point School District 9. March 3-7 is the time to recognize and appreciate the contributions of our non-teaching staff like custodians, bus drivers, and instructional assistants who play vital roles in all of Eagle Point's schools. Our schools would not function without their work. Their time and dedication to our students, while rewarding, can be both challenging and time consuming. Thank you classified staff for your service!
March Economic and Revenue Forecast:
The March Economic and Revenue Forecast has been released. The net General Fund and Lottery resources available for the 2025-27 biennium was $267.5 million above the December forecast.
The Forecast showed decreases of $109 million in Net General Fund and Lottery Resources for the 2023-25 biennium (compared to the December 2024 Forecast), mostly due to increased expenditures made during the December 2024 Special Session. The projected personal kicker decreased slightly to $1.733 billion and the projected corporate kicker decreased slightly to $993.1 million. Corporate kicker funds will be required to be spent on K-12 education during the next budget cycle (2025-27).
For the first time, projected net General Fund and Lottery resources for the 2025-27 biennium have topped $40 billion ($40.138 billion to be exact.)
The state’s reserve accounts decreased by about $200 million (Education Stability Fund, Rainy Day Fund, and Cash Reserves) and are currently projected to reach $5.502 billion at the end of the 2023-25 biennium. The Education Stability Fund is projected to have $1.009 billion, the Rainy-Day Fund is projected to have $1.906 billion, and cash reserves are $2.586 billion. Together these reserve accounts are equivalent to 19.8% of the General Fund Budget. Oregon is in a very strong position to weather even a significant economic downturn.
The Corporate Activity Tax forecast for the 2025-27 biennium (which is the funding source for the Student Success Act) saw a dip in projected revenue with a decrease of $9.5 million compared to the December Forecast.
Chief State Economist Carl Riccadonna’s office issued the following Revenue Forecast Summary with additional key information. A few key excerpts from the summary worth sharing:
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The revenue picture for the current 2023-25 biennium has been revised downward $90.3 million compared to the December forecast. The General Fund appropriation level was increased during the December 2024 Special Session by $110.2 million. The projected ending balance now stands at $2.59 billion.
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For 2025-27, available General Fund resources, including a somewhat smaller beginning balance carried forward from the current biennium, are increased by $350.1 million to a total of $38.2 billion. The effects of the taxable income gains discussed above are compounded by a reduction in the kicker credit deducted from the personal income tax forecast. Note that the current available resource projection does not include an estimate of savings due to agencies not expending their full appropriations in the prior biennium. This adjustment will be factored into the next forecast.
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Outside of the General Fund, the major revenue sources are the Corporate Activity Tax and Lottery. Corporate Activity Tax revenues have been revised downward $31.6 million for 2023-25 due entirely to slightly weaker receipts activity in recent months. Revenues are only slightly down in 2025-27, off $9.5 million from the prior forecast. Lottery earnings are reduced $19.8 million in the current biennium and $65.6 million in 2025-27. The sizable reduction next biennium includes a correction to the unclaimed prize calculation and milder growth expectations for video lottery earnings.
Here are some links to today’s materials for more information:
Office of Economic Analysis Presentation to the Revenue Committees
Legislative Revenue Office Forecast Summary
D9 Foundation:
EPSD9 community members and alumni are reminded that the D9 Foundation is a non-profit all volunteer organization dedicated to providing scholarships for every Eagle Point graduate. Fundraising is vitally important to keeping the scholarships coming to our students. Please consider volunteering or joining this organization. Information in doing so can be found at D9Foundation@gmail.com.
Due February’s snow storm the Scholarship Dessert Night has been changed to March 4th. …
Superintendent Kovach
541-830-6563 -
