2007 ORS § 327.095¹
Percentages and time of payment of apportionments to school districts
(1) Funds due school districts under ORS 327.008 (State School Fund) and 327.013 (State School Fund distribution computations for school districts) shall be paid approximately 16-2/3 percent on July 15, approximately eight and one-third percent on the 15th day of each of the months of August, September, October, November, December, January, February, March and April and the balance on May 15. An equitable apportionment based on the most recent data available shall be made on the installment dates prior to May 15. If such payments are too high or too low, appropriate adjustments shall be made in the May 15 payments. However, if the reports required by ORS 327.133 (Reports by districts) have not been received from any district when due, no further apportionments shall be made to such district until such reports are filed.
(2) If the combined estimated level of ADMw under ORS 327.013 (State School Fund distribution computations for school districts) (7) of all school districts is less than the statewide projected level of ADMw, the Department of Education may:
(a) Adjust the distributions to school districts on the installment dates to reflect the difference; and
(b) Set aside an amount of the funds appropriated to the State School Fund for the fiscal year until the May 15 distribution. [Amended by 1953 c.108 §3; 1957 c.612 §14; 1959 c.388 §12; 1965 c.100 §24; 1975 c.196 §1; 1977 c.280 §1; 1977 c.840 §8; 1981 c.678 §9; 1983 c.610 §7; 1991 c.780 §16; 1997 c.821 §18; 2002 s.s.1 c.4 §1; 2002 s.s.4 c.1 §1]