Tennessee Code 11-3-305 – Self – sufficiency of revenue – generating facilities
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Terms Used In Tennessee Code 11-3-305
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
It is the legislative intent that the following types of revenue-generating facilities at state parks shall be self-sufficient by the fiscal year 2007-2008: marinas, campgrounds, golf courses, cabins, gift shops, restaurants and inns. “Self-sufficient” means that the revenue generated at all such facilities collectively is sufficient to cover all of the direct operational costs incurred at those facilities. Nothing in this section shall be construed to automatically require the closing of any park or facility which is not individually self-sufficient.