Tennessee Comptroller of the Treasury - Office of State and Local Finance

	State Funding Board December 19, 2012 - Archive Video 2/13/2013
	State Funding Board December 14, 2012 - Archive Video 2/13/2013
	This is the Indebtedness Report for the period ending June 30, 2012 and December 31, 2012. 2/12/2013
	" State Funding Board Consensus of State Revenue Projections and Net Lottery Proceeds Estimates " 12/19/2012
	State Funding Board Meeting December 14, 2012 – Agenda and Presentations 12/14/2012
	State Funding Board December Meeting Dates and Agendas 12/7/2012
	State of Tennessee General Obligation Bonds, Series 2012 B & C The Official Statement for the State of Tennessee's recent bond sale is now available. 11/27/2012
	The State of Tennessee Indebtedness Report for period ending December 31, 2011 and June 30, 2012. 8/30/2012
	Tennessee State School Bond Authority Higher Educational Facilities Second Program Bonds; $208,295,000 2012 Series A, $103,790,000 2012 Series B (Federally Taxable), $125,635,000 Refunding Series C Official Statement 7/20/2012
	Public Debt Report Form for the State of Tennessee General Obligation Bonds, 2012 Refunding Series A 4/18/2012
	“TLDA Gets Its First Female Member” 4/12/2012
	TLDA Subordination Policy 1/17/2012
	Tennessee State School Bond Authority Comprehensive Annual Financial Report for the year ended June 30, 2011 1/10/2012
	Model Debt Management Policy 9/30/2011
	Submission of Plans of Refunding 3/7/2011

Statutory responsibilities

Review and approve proposals for issuance of short-term debt by cities and counties.
Review and report on proposals for issuance of refunding debt by cities and counties.
Review and report on proposals for issuance of debt by utility districts.
Review and approve certain investment proposals submitted by cities, counties and utility districts.
Review and maintain file of debt information forms submitted by all tax-exempt entities.
Review and file performance bonds for county officers, treasurers for municipal and special school districts, and treasurers for emergency communications districts.
Review and approve annual operating budgets for cities, counties and utility districts having outstanding debt which was approved under parts A, B or C.
Review, for determination of feasibility, business plans submitted by municipal electric systems proposing to provide cable television, internet, video programming or other related services.
Review, for determination of compliance with guidelines issued by State Funding Board, proposals by cities, counties, utility districts and public building authorities to enter into certain contracts or agreements relating to the issuance of debt. (Swaps, caps, forwards, floors, etc.)

Other division activities

Assist in the preparation of legislation pertaining to local governments.
Assist staff of the Industrial Building Finance Committee (Department of Economic and Community Development) in reviewing documents pertaining to the issuance of debt by local governments for industrial projects.
Attend meetings of the Program Loan Committee (Department of Economic and Community Development) concerning state and federal grants and loans awarded for industrial development in local governments.

GOAL
To assist local governments in Tennessee, through the application of legislative regulations, in their efforts to maintain a financially secure environment for themselves and, consequently, for the State.

OBJECTIVE Local Government Debt Management
	To determine that debt proposals by cities, counties, utility districts and emergency communication districts are in accordance with statutory requirements; to determine that operating budgets of cities, counties, utility districts and emergency communication districts having certain outstanding debt are in accordance with statutory requirements.
	A. Debt issues
	1.	Cities and counties: Office of State and Local Finance must review proposal for issuance of short-term note debt submitted by governing body of city or county, and if proposal is in accordance with statutory requirements, approve such proposal prior to issuance of debt; upon receipt of proper documents from cities and counties concerning issuance of refunding debt, Division of Local Finance must review prior to issuance of debt and may issue a report thereon. (TCA 9-21, Parts 1,4,6,7,8,9, and 10)
	2.	Utility districts and emergency communication districts: Division of Local Finance must review proposal for issuance of debt by utility districts and emergency communication districts prior to issuance of debt to determine if in compliance with statutory guidelines, and may issue a report thereon. (TCA 7-82, Part 5 and TCA 7-86, Part 1)
	B. Budgets
	1.	Cities and counties: Division of Local Finance must approve operating budgets of cities and counties that have short-term debt outstanding at the end of the fiscal year. Local governments determine if such debt is outstanding, and submit budget or notify Division that debt is not outstanding. Division personnel review budgets to determine are in balanced condition as required by statute. (TCA 9-21, Part 4).
	2.	Utility districts and emergency communication districts: Division of Local Finance must review operating budgets for utility districts and emergency communication districts that have debt outstanding at the end of the fiscal year. Districts determine if such debt is outstanding, and submit budget or notify Division that debt is not outstanding. Division personnel review budgets to determine in are balanced condition as required by statute, and may issue a report thereon. (TCA 7-82, Part 5)
OBJECTIVE Local Government Resource Management
	To determine that certain investment programs for cities, counties and utility districts are in accordance with statutory requirements; to determine that official bonds for elected and appointed county officers and fiscal officers of school systems and emergency communications districts are in accordance with statutory requirements.
	A. Investment programs: Division of Local Finance must review and approve investment programs submitted by cities, counties and utility districts involving repurchase agreements and certain long-term investment instruments to determine are in compliance with statutory guidelines. (TCA 5-8-301, TCA 6-56-106, TCA 7-82-108)
	B. Official bonds: Division of Local Finance must receive, review for statutory compliance, and maintain a file of approved official bonds submitted by elected county officers and fiscal officers of school systems and emergency communications districts. (TCA 8-19, TCA 7-86, TCA 49-3, and various specific statutes relating to each county elected office)
OBJECTIVE Public Entity Debt Report
	To determine that information reports submitted by local governments pertaining to the issuance of debt are prepared in accordance with statutory requirements. Division of Local Finance must review cost information reports submitted to the Division, as required by statute, pertaining to debt issued by tax-exempt entities in the state to determine that cost information has been presented as prescribed by State Funding Board. (TCA 9-21-151)
OBJECTIVE
	To determine the feasibility of business plans submitted by local electric systems desiring to provide certain telecommunications services. Division of Local Finance must review and report on feasibility of detailed business plans submitted by local electric systems desiring to provide video cable or internet service, video programming, or other similar services. (TCA 7-62-602)

Office of State & Local Finance
505 Deaderick Street
James K. Polk Building, Suite 1600
Nashville , TN 37243-0273
Fax: (615) 741-5986

Mary-Margaret Collier, Director
Telephone: (615) 747-5370
mary.margaret.collier@cot.tn.gov

Sandra Thompson, Assistant Director
Telephone: (615) 747-5369
sandi.thompson@cot.tn.gov

Martha Brown, Executive Secretary
Telephone: (615) 747-5368
martha.l.brown@cot.tn.gov