No. 38781 (Amendment): Rule R277-704. Financial and Economic Literacy: Integration into Core Curriculum and Financial and Economic Literacy Student Passports

(Amendment)

DAR File No.: 38781
Filed: 08/15/2014 06:19:55 AM

RULE ANALYSIS

Purpose of the rule or reason for the change:

Rule R277-704 is amended in response to S.B. 40, Financial and Economic Literacy Amendments, from the 2014 General Legislative Session.

Summary of the rule or change:

Amendments to Rule R277-704 provide for implementation of an endorsement to teach financial literacy, specify the content of course work for the endorsement, and provide for implementation of a statewide, online end of course assessment for a financial literacy course.

State statutory or constitutional authorization for this rule:

• Subsection 53A-1-401(3)
• Section 53A-13-110

Anticipated cost or savings to:

the state budget:

The Utah State Board of Education (Board) is required to develop and maintain additional curriculum in line with revised standards and objectives; provide related professional development to K-12 teachers; develop and maintain an end-of-level online exam for secondary students; and analyze and report achievement results; and develop and administer a General Financial Literacy Teacher licensing endorsement. The Legislature appropriated $300,000 ongoing and $150,000 one-time funding to the Board to support requirements of the legislation. It is anticipated that if costs are beyond the funding appropriated by the Legislature, existing Board staff will satisfy the requirements of this legislation within existing budgets.

local governments:

LEAs are required to offer an online assessment developed by USOE and administered in conjunction with financial and economic literacy courses taught as part of secondary curriculum. It is anticipated that existing LEA staff will administer the assessment within existing budgets which likely will not result in a cost or savings to local government.

small businesses:

The requirements of the amended rule affect the state and LEAs. There will likely not be any costs or savings to small businesses resulting from the amendments.

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

The requirements of the amended rule affect the state and LEAs. There will likely not be any costs or savings to persons other than small businesses, businesses, or local government entities resulting from the amendments.

Compliance costs for affected persons:

It is anticipated that the state and LEAs will satisfy the requirements of this legislation, which likely will not result in any compliance costs for affected persons.

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

I have reviewed this rule and I believe that there is likely no fiscal impact on businesses.

Martell Menlove, State Superintendent

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

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

Direct questions regarding this rule to:

• Carol Lear at the above address, by phone at 801-538-7835, 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:

10/01/2014

This rule may become effective on:

10/08/2014

Authorized by:

Carol Lear, Director, School Law and Legislation

RULE TEXT

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.

[B]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.

[C]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.

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

[E]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.

[F]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 53A-13-110 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 Section 53A-1-401(3) 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;[ and]

(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[s] students and[ their] 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-[4]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.

 

KEY: financial, economics, literacy

Date of Enactment or Last Substantive Amendment: [January 8, ]2014

Notice of Continuation: November 8, 2013

Authorizing, and Implemented or Interpreted Law: Art X Sec 3; 53A-13-110; 53A-1-401(3)

 

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