(1) “Average daily attendance” or “ADA” means the aggregate days' attendance of a given school during a given reporting period divided by the number of days school is in session during this period as provided in the rules and regulations of the state board;

(2) “Average daily membership” or “ADM” means the sum of the total number of days enrolled divided by the number of days school is in session during this period as provided in the rules and regulations of the state board;

(3) “Basic education program” or “BEP” is the funding formula for the calculation of kindergarten through grade twelve (K-12) education funding necessary for our schools to succeed;

(4) “Board” means the board of education of any LEA;

(5) “Commissioner” means the commissioner of education;

(6) “Contact hour” means an hour of student time that is supervised by licensed personnel;

(7) “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 § 49-3-306(g)(1);

(8) “Full-time equivalent” or “FTE” means the total number of contact hours in attendance in a program during one (1) school week divided by the number of hours required for a school week as established by the state board for kindergarten through grade twelve (K-12) in an LEA;

(9) “Full-time equivalent average daily attendance” or “FTEADA” means the average of the aggregated FTEs in attendance in one (1) program during the given reporting periods;

(10) “Licensed personnel” means any person employed by an LEA and for whom licensure is required as a condition of employment by law;

(11) “Local education agency” or “LEA” means any county, city, or special school district, unified school district, school district of any metropolitan form of government or any other school system established by law;

(12) “Rules and regulations” means those rules and regulations that the state board may adopt as provided in § 49-3-305;

(13) “State board” means the state board of education;

(14) “State education agency” or “SEA” means the department of education;

(15) “State salary schedule” means the salary schedule adopted by the state board for licensed personnel, which is based on training and experience;

(16) “State training and experience factor” means the average training and experience of all licensed personnel in the state based upon the table of training and experience factors adopted by the state board;

(17) “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;

(18) “Weighted full-time equivalent average daily attendance” or “WFTEADA” means one (1) full-time equivalent average daily attendance multiplied by the cost differential for a program; and

(19) “Weighted identified and served student with a disability” means one (1) identified and served student with a disability multiplied by the cost differential for special education.