Often misunderstood to mean Full-Time Employees, in school finance FTE stands for Full-Time Equivalent. Regarding the people employed at a district, FTE is the ratio a person works out of the 40 possible hours in a workweek. Someone working 60 hours a week would be 1.5 FTE, and someone working 10 hours a week would be .25 FTE. (Source: Allovue. (n.d.). Education Finance Glossary. Alloversity.)