Approval of Proposed Personal Financial Literacy Materials
September 24, 2010
COMMITTEE ON INSTRUCTION: ACTION
STATE BOARD OF EDUCATION: ACTION
SUMMARY: This item recommends approval of personal financial literacy materials to be used in high school economics courses.
STATUTORY AUTHORITY: Texas Education Code (TEC), §28.0021.
PREVIOUS BOARD ACTION: A discussion item regarding the proposed process for review of personal financial literacy materials was presented to the Committee on Instruction during the November 2005 meeting. The materials review process was approved by the State Board of Education (SBOE) in February 2006. (See Attachment II.) The SBOE approved materials in April 2006, July 2006, November 2007, and May 2009. (See Attachment III.)
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: The 79th Texas Legislature, 2005, passed House Bill (HB) 492, adding TEC, §28.0021, to require the SBOE to approve materials for use in providing instruction in personal financial literacy through economics courses. Following the process the SBOE approved in February 2006, staff posted a call for materials and reviewed personal financial literacy materials that were submitted. The SBOE approved the list of materials at the April 2006 meeting. As instructed by the SBOE, staff posted a second call for materials following the April 2006 meeting. The SBOE approved a second set of submissions at the July 2006 meeting. Staff posted a third call for materials in September 2007 and the SBOE approved the third set of submissions at the November 2007 meeting. In March 2009, staff posted a fourth call for materials, and in May 2009 the SBOE approved the fourth set of submissions for materials for personal financial literacy. On July 30, 2010, staff posted a fifth call for materials. August 27, 2010, was the deadline for receiving materials for review and approval by the SBOE. A list of recommended materials will be provided to board members at the September SBOE meeting.
FISCAL IMPACT: None.
PUBLIC AND STUDENT BENEFIT: Students would have access to additional information regarding personal financial literacy in economics courses.
PROCEDURAL AND REPORTING IMPLICATIONS: School districts are required by statute to use materials approved by the SBOE to incorporate instruction in personal financial literacy into any course meeting the requirement for an economics credit.
PUBLIC COMMENTS: None.
OTHER COMMENTS AND RELATED ISSUES: None.
COMMISSIONER'S RECOMMENDATION: I recommend that the State Board of Education:
Approve the personal financial literacy materials on the list to be provided at the September meeting.
Commissioner of Education
Staff Members Responsible:
Anita Givens, Associate Commissioner
Standards and Programs
Norma Torres-Martinez, Deputy Associate Commissioner
Standards and Alignment
Monica Martinez, Managing Director
I. Statutory Citation
II. Implementation Plan for House Bill 492
III. List of Approved Materials – April 2006, July 2006, November 2007, and May 2009
List of Personal Financial Literacy Materials Proposed for Approval
(to be provided at the September SBOE meeting)