(a)

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Terms Used In Tennessee Code 9-5-103

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) At the end of each fiscal year, the comptroller of the treasury shall report on all state lending programs and state credit support programs in a single document, including a cite to each individual lending program’s statutory authority.
(2) The report must include:

(A) The total dollar amount of all lending in state lending programs and the total amount of all debt supported by state credit support programs, and the totals for each individual program; and
(B) Reasonable estimates of the cost of likely defaults on all state lending programs and state credit support programs, using generally accepted accounting principles for credit losses, and the estimates for each individual program.
(b)

(1) The comptroller of the treasury shall provide the report required under subsection (a) to:

(A) Each member of the general assembly; and
(B) The commissioner of finance and administration.
(2) The report may be provided electronically.
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