Common use of State and Local Funds Clause in Contracts

State and Local Funds. The Authorizer shall allocate one hundred percent (100%) of state and local student-generated funds for member schools as provided in T.C.A. § 00-00-000 and as calculated by the formula provided by the Tennessee Department of Education, in accordance with T.C.A. § 49-3-101 et. seq. The Authorizer shall allocate funds to the Charter School after each of the ten (10) attendance-reporting intervals. The Authorizer shall allocate and distribute one-tenth of state and local funds to the Charter School by the 15th of the month in August, September, October, November, December, January, February, March, April, and June, in accordance with Tenn. Comp. R. & Regs. 0520-14-01-.03. Each state and local payment from October through April and the final payment in June is contingent on the Charter School’s reporting of the Charter School’s Average Daily Membership (ADM) in the Tennessee Department of Education’s Education Information System (EIS). Each payment starting in October will be reconciled to the reported ADM for the period before being released. The final (tenth) payment will not be released until the year’s ADMs have been reconciled.

State and Local Funds. The Authorizer shall allocate one hundred percent (100%) of state and local student-generated Basic Education Program (BEP) funds for member schools to the Charter School on a per pupil expenditure as provided in T.C.A. § 00-00-000 and as calculated by the formula provided by the Tennessee Department of Education, in accordance with T.C.A. § 49-3-101 et. seq. The Authorizer shall allocate funds to the Charter School after each of the ten (10) attendance-reporting intervals. The Authorizer shall allocate and distribute one-tenth of state and local funds to the Charter School by the 15th of the month in August, September, October, November, December, January, February, March, April, and June, in accordance with Tenn. Comp. R. & Regs. 0520-14-01-.03. Each state and local payment from October through April and the final payment in June is contingent on the Charter School’s reporting of the Charter School’s Average Daily Membership (ADM) in the Tennessee Department of Education’s Education Information System (EIS). Each payment starting in October will be reconciled to the reported ADM for the period before being released. The final (tenth) payment will not be released until the year’s ADMs have been reconciled.