Terms Used In Tennessee Code > Title 49 > Chapter 3 - Finances

• ADM: means the sum of the total number of days a student is enrolled divided by the number of days school is in session during this period. See Tennessee Code 49-3-104
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Agriculture: means :
  (i) The land, buildings and machinery used in the commercial production of farm products and nursery stock. See Tennessee Code 1-3-105
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the Tennessee state school bond authority created by §. See Tennessee Code 49-3-1202
• Base funding amount: means the uniform dollar amount that each student generates towards the student's funding allocation in a given year. See Tennessee Code 49-3-104
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Baseline funding amount: means :
  (A) The basic education program allocations an LEA received in the 2022-2023 school year. See Tennessee Code 49-3-104
• Board: means the board of education of any LEA. See Tennessee Code 49-3-302
• Board: means both the board of trustees of the University of Tennessee and the state board of education, or either of them. See Tennessee Code 49-3-1102
• Board: means the board of trustees of the University of Tennessee or the board of regents of the state university and community college system, or both, as the case may be. See Tennessee Code 49-3-1202
• Bonds: means any bonds of the board issued pursuant to this part. See Tennessee Code 49-3-1102
• Career and technical program: means a coordinated, non-duplicative sequence of academic and technical content that:
  (A) Incorporates challenging state academic standards. See Tennessee Code 49-3-104
• Chambers: A judge's office.
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Commissioner: means the commissioner of education. See Tennessee Code 49-3-104
• Commissioner: means the commissioner of education. See Tennessee Code 49-3-302
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Concentrated poverty: means that a student is a member in a school that is eligible for Title I schoolwide designation. See Tennessee Code 49-3-104
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• corporation: means the corporation created by §. See Tennessee Code 49-3-1202
• Cost differential: means that factor establishing a rate of reimbursement for a program relative to the reimbursement of one (1) FTEADA in grades four through six (4-6) as established in §. See Tennessee Code 49-3-302
• County mayor: means and includes "county executive" unless the context clearly indicates otherwise. See Tennessee Code 1-3-105
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the department of education. See Tennessee Code 49-3-104
• Dependent: A person dependent for support upon another.
• Direct allocation: means an allocation in addition to the base funding amount for a student expressed as a flat dollar amount. See Tennessee Code 49-3-104
• Docket: A log containing brief entries of court proceedings.
• Donor: The person who makes a gift.
• Economically disadvantaged: means , as defined in Tennessee's Every Student Succeeds Act (ESSA) plan established pursuant to the federal Every Student Succeeds Act (20 U. See Tennessee Code 49-3-104
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Federal agency: means the United States, the president of the United States, the administrator of general services or such other agency or agencies as may be designated or created to make loans or grants or both pursuant to the recovery act or any further acts. See Tennessee Code 49-3-1102
• Fiscal capacity: means the percentage of the local share that a county must contribute. See Tennessee Code 49-3-104
• Fiscal capacity calculation: means the formula evaluated by the comptroller of the treasury and approved by the state board that determines fiscal capacity as the average of the fiscal capacity estimates generated by the formula established by the Boyd Center for Business and Economic Research at the University of Tennessee and the formula established by the Tennessee advisory commission on intergovernmental relations. See Tennessee Code 49-3-104
• 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.
• FTEADA: means the average of the aggregated FTEs in attendance in one (1) program during the given reporting periods. See Tennessee Code 49-3-302
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Institution: means any one of the East Tennessee State University, Middle Tennessee State University, the University of Memphis, the Tennessee Technological University, the University of Tennessee and the University of Tennessee, Martin branch. See Tennessee Code 49-3-1102
• Institution: means :
  (A) The University of Tennessee system, including all of its branches and divisions wherever located, and the services, programs and activities provided therein, and the board of trustees of the University of Tennessee, in the aggregate. See Tennessee Code 49-3-1202
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• LEA: means a county, city, or special school district, unified school district, school district of a metropolitan form of government, or another school system established by law. See Tennessee Code 49-3-104
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed personnel: means any person employed by an LEA and for whom licensure is required as a condition of employment by law. See Tennessee Code 49-3-302
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Loan agreement: means an agreement providing for the authority to loan the proceeds derived from the issuance of bonds, notes or other debt obligations pursuant to this chapter to a local government to be used to pay the cost of one (1) or more qualified zone academy projects. See Tennessee Code 49-3-1202
• Local contribution: means the dollar amount of local funds that a local government must pay toward the local share. See Tennessee Code 49-3-104
• Local government: means any county, metropolitan government, incorporated city or town or special school district in this state and the state board of education acting on behalf of any special school listed in §. See Tennessee Code 49-3-1202
• Membership: means a student is enrolled and assigned to a class. See Tennessee Code 49-3-104
• Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
• Month: means a calendar month. See Tennessee Code 1-3-105
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Personal property: All property that is not real property.
• Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
• Postsecondary readiness assessment: means the assessment required pursuant to §. See Tennessee Code 49-3-104
• Project: means and includes buildings, structures, improvements and equipment of every kind, nature and description that may be required by or convenient for the purpose of an institution, including, without limiting the generality of the foregoing, administration, dining, exhibition, lecture, recreational and teaching halls, or parts of or additions to them. See Tennessee Code 49-3-1102
• Project: means and includes buildings, structures, improvements and equipment of every kind, nature and description, that may be required by or convenient for the purpose of an institution, or a combination of two (2) or more such buildings, structures, improvements and equipment. See Tennessee Code 49-3-1202
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• Recovery act: means all acts or resolutions of the congress of the United States to encourage public works, to provide relief, work relief, or to increase employment by providing for useful projects and providing for the making of loans or grants or both. See Tennessee Code 49-3-1102
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Rules and regulations: means those rules and regulations that the state board may adopt for the administration of this part. See Tennessee Code 49-3-302
• School credit bond project: means and includes the acquisition of land for, and the construction, renovation, repair, rehabilitation, improving or equipping of, school facilities for a local government or a public charter school, as defined in §. See Tennessee Code 49-3-1202
• SEA: means the department of education. See Tennessee Code 49-3-302
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• sex: means a person's immutable biological sex as determined by anatomy and genetics existing at the time of birth and evidence of a person's biological sex. See Tennessee Code 1-3-105
• signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
• Small district: means an LEA with a membership of one thousand (1,000) or fewer students. See Tennessee Code 49-3-104
• Sparse district: means a county LEA located in a county with fewer than twenty-five (25) students per square mile. See Tennessee Code 49-3-104
• 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
• State board: means the state board of education. See Tennessee Code 49-3-104
• State board: means the state board of education. See Tennessee Code 49-3-302
• State salary schedule: means the salary schedule adopted by the state board for licensed personnel, which is based on training and experience. See Tennessee Code 49-3-302
• Statute: A law passed by a legislature.
• TCAP: means the Tennessee comprehensive assessment program. See Tennessee Code 49-3-104
• TISA: means the student-based funding formula established pursuant to this part that consists of student-generated funding allocations pursuant to §. See Tennessee Code 49-3-104
• To acquire: includes to purchase, erect, build, construct, reconstruct, repair, replace, extend, better, equip, develop or improve a project. See Tennessee Code 49-3-1102
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Training and experience factor: means the average training and experience of all licensed personnel in each LEA based upon the table of training and experience factors adopted by the state board. See Tennessee Code 49-3-302
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Unique learning need: means a learning need for which an LEA must provide the student individualized services, interventions, accommodations, or modifications to meet the student's need pursuant to §. See Tennessee Code 49-3-104
• Unique learning needs: include , but are not limited to, disabilities, characteristics of dyslexia, giftedness, or limited English proficiency. See Tennessee Code 49-3-104
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Venue: The geographical location in which a case is tried.
• Weighted allocation: means an allocation in addition to the base funding amount for a student that is expressed as a percentage of the base funding amount. See Tennessee Code 49-3-104
• WFTEADA: means one (1) full-time equivalent average daily attendance multiplied by the cost differential for a program. See Tennessee Code 49-3-302
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105