The Section of Local Finance provides school districts, also called local education agencies or LEAs, assistance in areas of governmental accounting, budgeting and financial reporting.
The section also ensures district compliance with state statutes and Tennessee State Board of Education Rules, Regulations and Minimum Standards as they relate to education finance.
This section maintains the Basic Education Program (BEP) funding formula. This formula is used to calculate K-12 funds for public schools in Tennessee. Once funding has been calculated, staff distributes funding information to districts.
Staff provide periodic workshops on the funding formula to districts and provides funding updates at the Spring Fiscal Workshops held by the Office of Local Finance.
Questions regarding ConnecTEN, Salary Equity and BEP growth funding should be directed to this section.