No. 43519 (Amendment): Rule R277-704. Financial and Economic Literacy: Integration into Core Curriculum and Financial and Economic Literacy Student Passports

(Amendment)

DAR File No.: 43519
Filed: 02/13/2019 12:39:51 PM

RULE ANALYSIS

Purpose of the rule or reason for the change:

In response to a recent state audit on this program, these amendments seek to make several changes including aligning the standards review process with the core standards' process.

Summary of the rule or change:

Utah State Board of Education (Board) Rule R277-704 is amended with new language to the authority in Section R277-704-1, amended definitions in Section R277-704-2, and updated language in Sections R277-704-3 through R277-704-7, aligning the standards review process with the core standards' process. This rule is also amended to make technical and formatting changes.

Statutory or constitutional authorization for this rule:

• Section 53E-3-505
• Article X Section 3
• Subsection 53E-3-401(4)

Anticipated cost or savings to:

the state budget:

These rule changes are not expected to have any material fiscal impact on state government revenues or expenditures because they require the Board to work with financial and economic experts, and private and non-profit entities to develop and integrate financial and economic literacy and skills into the public school curriculum. In response to a recent state audit on this program, these amendments seek to make several changes including aligning the standards review process with the core standards' process. Estimated costs to implement work groups total $500 which is not material to the Board. These amendments will also make technical and formatting changes.

local governments:

These rule changes are not expected to have any material impact on local governments' revenues or expenditures because they require the Board to work with financial and economic experts, and private and non-profit entities to develop and integrate financial and economic literacy and skills into the public school curriculum. In response to a recent state audit on this program, these amendments seek to make several changes including aligning the standards review process with the core standards' process. These amendments will also make technical and formatting changes.

small businesses:

These rule changes are not expected to have any material fiscal impact on small businesses' revenues or expenditures because they require the Board to work with financial and economic experts, and private and non-profit entities to develop and integrate financial and economic literacy and skills into the public school curriculum. In response to a recent state audit on this program, these amendments seek to make several changes including aligning the standards review process with the core standards' process. Endorsement and licensure requirements are already in existence, costs will not change for individuals. These amendments will also make technical and formatting changes.

persons other than small businesses, businesses, or local governmental entities:

These rule changes are not expected to have any material fiscal impact on persons other than small businesses, businesses, or local government entities revenues or expenditures because they requires the Board to work with financial and economic experts, and private and non-profit entities to develop and integrate financial and economic literacy and skills into the public school curriculum. In response to a recent state audit on this program, these amendments seek to make several changes including aligning the standards review process with the core standards' process. These amendments will also make technical and formatting changes.

Compliance costs for affected persons:

There are no compliance costs for affected persons.

Comments by the department head on the fiscal impact the rule may have on businesses:

There are 1,241 entities with a NAICS code 611110 (Elementary and Secondary Schools) operating in Utah according to a "Firm Find Data" search through Utah's Department of Workforce Services. Most of the entities in the list are schools including public schools, charter schools, and private schools. Of the 1,241 entities, there are 15 private businesses, all of which are small businesses (there are no non-small businesses with a NAICS code 611110). These rule changes have no material fiscal impact on local education agencies and will not have a fiscal impact on non-small or small businesses. The Assistant Superintendent of Financial Operations at the Utah State Board of Education, Natalie Grange, has reviewed and approved this fiscal analysis.

Sydnee Dickson, State Superintendent

The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:

Education
Administration
250 E 500 S
SALT LAKE CITY, UT 84111-3272

Direct questions regarding this rule to:

• Angela Stallings at the above address, by phone at 801-538-7550, by FAX at 801-538-7768, or by Internet E-mail at [e-mail]

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

04/01/2019

This rule may become effective on:

04/08/2019

Authorized by:

Angela Stallings, Deputy Superintendent of Policy

RULE TEXT

Appendix 1: Regulatory Impact Summary Table*

Fiscal Costs

FY 2019

FY 2020

FY 2021

State Government

$0

$0

$0

Local Government

$0

$0

$0

Small Businesses

$0

$0

$0

Non-Small Businesses

$0

$0

$0

Other Person

$0

$0

$0

Total Fiscal Costs:

$0

$0

$0

Fiscal Benefits

State Government

$0

$0

$0

Local Government

$0

$0

$0

Small Businesses

$0

$0

$0

Non-Small Businesses

$0

$0

$0

Other Persons

$0

$0

$0

Total Fiscal Benefits:

$0

$0

$0

Net Fiscal Benefits:

$0

$0

$0

 

*This table only includes fiscal impacts that could be measured. If there are inestimable fiscal impacts, they will not be included in this table. Inestimable impacts for State Government, Local Government, Small Businesses and Other Persons are described in the narrative. Inestimable impacts for Non - Small Businesses are described in Appendix 2.

 

Appendix 2: Regulatory Impact to Non - Small Businesses

There are 1,241 entities with a NAICS code 611110 (Elementary and Secondary Schools) operating in Utah according to a "Firm Find Data" search through Utah's Department of Workforce Services. Most of the entities in the list are schools including public schools, charter schools, and private schools. Of the 1,241 entities, there are 15 private businesses, all of which are small businesses (there are no non-small businesses with a NAICS code 611110). These rule changes have no material fiscal impact on local education agencies and will not have a fiscal impact on non-small or small businesses.

 

The Assistant Superintendent of Financial Operations at the Utah State Board of Education, Natalie Grange, has reviewed and approved this fiscal analysis.

 

 

R277. Education, Administration.

R277-704. Financial and Economic Literacy: Integration into Core Curriculum and Financial and Economic Literacy Student Passports.

[R277-704-1. Definitions.

A. "Board" means the Utah State Board of Education.

B. "End of course assessment" means an online end of course assessment for use by school districts and charter schools for students who take the general financial literacy course.

C. "Endorsement" means the document required through the USOE licensing process for teachers who teach general financial literacy.

D. "Financial and economic literacy project" means a program or series of activities developed locally to encourage the understanding of financial and economic literacy among students and their families and to assist public school educators in making financial and economic literacy an integrated and permanent part of the public school curriculum.

E. "Financial and economic literacy student passport" means a collection of approved activities, assessments, or achievements completed during a given time period which indicate advancement in financial and economic understanding.

F. "LEA" means local education agency, including local school boards/ public school districts, charter schools, and, for purposes of this rule, the Utah Schools for the Deaf and the Blind.

G. "Professional development" for public school educators means the act of engaging in professional learning in order to improve student learning.

H. "SEOP/plan for college and career readiness" means a plan for students in grades 7-12 that includes:

(1) all Board and LEA board graduation requirements;

(2) the individual student's specific course plan that will meet graduation requirements and provides a supportive sequence of courses consistent with identified post-secondary training goals;

(3) evidence of parent, student, and school representative involvement annually; and

(4) attainment of approved workplace skill competencies.

I. "USOE" means the Utah State Office of Education.

 

R277-704-2. Authority and Purpose.

A. This rule is authorized under Utah Constitution Article X, Section 3 which gives general control and supervision of the public school system to the Board, by Section 53E-3-505 which directs the Board to work with financial and economic experts and private and non-profit entities to develop and integrate financial and economic literacy and skills into the public school curriculum at all appropriate levels and to develop a financial and economic literacy student passport which is optional for students and tracks student mastery of financial and economic literacy concepts, and by Subsection 53E-3-401(4), which permits the Board to adopt rules in accordance with its responsibilities.

B. The purpose of this rule is:

(1) to provide funds appropriated by the Legislature to develop and integrate financial and economic literacy concepts effectively into the core curriculum in various programs and at various grade levels;

(2) to begin the development of a financial and economic literacy student passport;

(3) to provide for educator professional development using business and community expertise, allowing for maximum creativity and flexibility;

(4) to provide curriculum resources and assessments for financial and economic literacy;

(5) to provide passport criteria and tracking capabilities for the financial and economic literacy passport for students grades K-12;

(6) to provide simple and consistent messaging to students that becomes part of the core curriculum that reinforces the importance of financial and economic literacy for students and parents; and

(7) to help students and parents to locate and use school and community resources to improve financial and economic literacy among students and families.

 

R277-704-3. Financial and Economic Literacy Student Passport.

A. The Board and the USOE shall develop and promote a financial and economic literacy student passport model, which would include tracking of student progress toward a passport.

B. Early efforts will focus on students in grades nine through 12.

C. Development efforts will include parent and community participation.

D. A major goal of the development and promotion of a financial and economic literacy student passport will be to inform and educate students and their parents throughout the public school experience of the importance of financial and economic literacy and its applicability to all areas of the public school curriculum.

E. Public schools shall provide parents/guardians and students with the following:

(1) during kindergarten enrollment, a financial and economic literacy passport and information about post-secondary education savings options; and

(2) information and encouragement toward the financial and economic literacy student passport opportunity upon development as part of the SEOP/plan for college and career readiness process.

 

R277-704-4. General Financial Literacy End of Course Assessment.

A. The USOE shall provide to LEAs an online end of course assessment for general financial literacy which shall:

(1) be administered to every student who takes the general financial literacy course;

(2) be aligned with general financial literacy revised core standards and objectives; and

(3) be measured and analyzed at the school, district and state-wide levels.

 

R277-704-5. General Financial Literacy Teacher Endorsement.

A. Any Board licensed educator who teaches general financial literacy shall have completed course work in:

(1) financial planning;

(2) credit and investing;

(3) consumer economics;

(4) personal budgeting; and

(5) family economics.

B. Educator course work can be part of or in addition to course work and programs of study required for licensure by the Board consistent with R277-502.

 

R277-704-6. Financial and Economic Literacy Professional Development Opportunities.

A. The USOE shall provide professional development for all areas of financial and economic literacy utilizing the expertise of community and business groups.

B. Professional development activities shall:

(1) inform public school educators about financial and economic literacy;

(2) encourage greater understanding of personal financial and economic responsibility;

(3) provide information and resources for teaching about financial and economic literacy without promoting specific products or businesses; and

(4) work with the USOE to develop messaging or advertising to promote financial and economic literacy.]

R277-704-1. Authority and Purpose.

(1) This rule is authorized by:

(a) Utah Constitution Article X, Section 3 which vests general control and supervision over public education in the Board;

(b) Subsection 53E-3-401(4), which allows the Board to make rules to execute the Board's duties and responsibilities under the Utah Constitution and state;

(c) Section 53E-3-505, which directs the Board to work with financial and economic experts and private and non-profit entities to develop and integrate financial and economic literacy and skills into the public school curriculum at all appropriate levels and to develop a financial and economic literacy student passport which is optional for students and tracks student mastery of financial and economic literacy concepts.

(2) The purpose of this rule is:

(a) to provide funds appropriated by the Legislature to develop and integrate financial and economic literacy concepts effectively into the core curriculum in various programs and at various grade levels;

(b) to begin the development of a financial and economic literacy student passport;

(c) to provide for educator professional development using business and community expertise;

(d) to provide curriculum resources and assessments for financial and economic literacy;

(e) to provide passport criteria and tracking capabilities for the financial and economic literacy passport for students grades K-12;

(f) to provide simple and consistent messaging to students that becomes part of the core curriculum that reinforces the importance of financial and economic literacy for students and parents; and

(g) to help students and parents to locate and use school and community resources to improve financial and economic literacy among students and families.

 

R277-704-2. Definitions.

(1) "Content Specialist" means the same as the term is defined in Subsection R277-520-1(1).

(2) "End of course assessment" means an online end of course assessment for students who take the general financial literacy course.

(3) "Endorsement" means the licensing document required by the board for teachers who teach general financial literacy.

(4) "Financial and economic literacy project" means a program or series of activities developed locally to implement financial and economic literacy education as described in Section 53E-3-505.

(5) "Financial and economic literacy student passport" means a collection of approved activities, assessments, or achievements completed during a given time period which indicate advancement in financial and economic understanding.

(6) "LEA" for purposes of this rule, includes the Utah Schools for the Deaf and the Blind.

(7) "Professional development" means the same as the term defined in Subsection R277-522-2(10).

 

R277-704-3. Financial and Economic Literacy Student Passport.

(1) The Superintendent shall develop and promote a financial and economic literacy student passport that includes tracking a student's progress.

(2) The Superintendent shall include parent and community participation on the development of the student passport described in Subsection (1).

(3) The first round of implementation of the financial and economic literacy student passport shall be for students in grades nine through 12.

(4) The Superintendent shall provide a financial and economic literacy student passport to support educators as they educate students and their parents of the importance of financial and economic literacy, including its applicability to other subject areas.

(5) An LEA shall provide parents and students with the following:

(a) a financial and economic literacy passport and information about post-secondary education savings options; and

(b) information about the financial and economic literacy student passport opportunity as part of the student's plan for college and career readiness.

 

R277-704-4. General Financial Literacy End of Course Assessment.

(1) The Superintendent shall provide an LEA with an end of course assessment for general financial literacy which shall be:

(a) administered to every student who takes the general financial literacy course;

(b) aligned with general financial literacy revised core standards and objectives; and

(c) measured and analyzed at the school, district, and state-wide levels.

 

R277-704-5. General Financial Literacy Teacher Endorsement.

(1) A Board licensed educator who teaches general financial literacy is required to have licensing, endorsements, and other credentials equal to other content specialists as described in Section R277-520-4.

(2) An educator's course work may be part of or in addition to course work and programs of study required for licensure by the Board consistent with R277-502.

 

R277-704-6. Financial and Economic Literacy Professional Development Opportunities.

(1) The Superintendent shall provide professional development for all areas of financial and economic literacy utilizing the expertise of community and business groups.

(2) Professional development activities shall:

(a) provide information about financial and economic literacy including personal finance and economic responsibility;

(c) provide resources for teaching financial and economic literacy without promoting specific products or businesses; and

(d) work with the Superintendent to develop strategies for promoting financial and economic literacy.

 

R277-704-7. Financial and Economic Literacy Taskforce.

(1) The financial and economic literacy taskforce shall have the membership and general responsibilities outlined in Subsection 53E-3-505(3).

(2) In addition to the responsibilities outlined in Subsection 53E-3-505(3), the financial and economic literacy taskforce shall:

(a) analyze data provided by the Superintendent that includes:

(i) aggregated-school level proficiency results from the end of course assessment;

(ii) general enrollment data;

(iii) assessment of general financial literacy education quality; and

(iv) other relevant data to inform strategies for strengthening financial literacy proficiency; and

(b) serve as the writing committee for the financial literacy course standards described in Subsection 53E-4-204(1)(b), (3), and (4).

(3) The course standards described in Subsection (2)(b) are subject to the same approval requirements described in Subsection 53E-4-202(4).

 

KEY: financial, economics, literacy

Date of Enactment or Last Substantive Amendment: [October 9, 2014]2019

Notice of Continuation: November 5, 2018

Authorizing, and Implemented or Interpreted Law: Art X Sec 3; 53G-3-505; 53E-3-401(4)

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