revenue collections, the proposed budget and other budget requests, appropriations, state debt, and various state funds, among other items. It also prepares estimates of revenues from the Tennessee Education Lottery and oversees the financial operations of state departments and agencies. Further, it prepares the fiscal note attached to each bill presented in the General Assembly, describing the estimated cost of the bill's contents on state and local government.

It was set up as a special continuing committee of the General Assembly in