February 8, 2023 3:20 a.m.

Oregon’s K-12 public schools will receive a record $72.2 million this year from the Common School Fund.

An announcement came during Tuesday’s State Land Board meeting.

A release from the Oregon Department of State Lands said every one of Oregon’s 197 public school districts receives money from the Common School fund every year. How much each district receives depends on the number of students served. In 2023 the state’s largest district, Portland Public Schools, will receive $6.4 million. Roseburg Public Schools will be allocated just over $727,000. The Sutherlin School District will receive just over $173,000.

The Common School Fund has supported Oregon schools since statehood, when the federal government granted the state nearly 3.4 million acres “for the use of schools”. The State Land Board was established to oversee those school lands, which generate revenue for the Fund.

Now valued at $2.1 billion, the Common School Fund is invested by the state treasurer and the Oregon Investment Council. It earned an average 4.42 percent rate of return over the three-year period ending in 2022.

Annually 3.5 percent of the Fund is distributed to schools. $72.2 million allocated this year compares to $64.2 million in 2022 and $60.1 million in 2021.