Section 37-1-3 - Adoption of rules and regulations; budget; central management; educational improvement program; curriculum and course of study; objectives for instruction in personal money management skills; authority to expend available federal funds for training expenses and salary incentives for licensed teachers(1) The State Board of Education shall adopt rules and regulations and set standards and policies for the organization, operation, management, planning, budgeting and programs of the State Department of Education. (a) The board is directed to identify all functions of the department that contribute to or comprise a part of the state system of educational accountability and to establish and maintain within the department the necessary organizational structure, policies and procedures for effectively coordinating such functions. Such policies and procedures shall clearly fix and delineate responsibilities for various aspects of the system and for overall coordination of the total system and its effective management.(b) The board shall establish and maintain a system-wide plan of performance, policy and directions of public education not otherwise provided for.(c) The board shall effectively use the personnel and resources of the department to enhance technical assistance to school districts in instruction and management therein.(d) The board shall establish and maintain a central budget policy.(e) The board shall establish and maintain within the State Department of Education a central management capacity under the direction of the State Superintendent of Public Education.(f) The board, with recommendations from the superintendent, shall design and maintain a five-year plan and program for educational improvement that shall set forth objectives for system performance and development and be the basis for budget requests and legislative initiatives.(2)(a) The State Board of Education shall adopt and maintain a curriculum and a course of study to be used in the public school districts that is designed to prepare the state's children and youth to be productive, informed, creative citizens, workers and leaders, and it shall regulate all matters arising in the practical administration of the school system not otherwise provided for.(b) Before the 1999-2000 school year, the State Board of Education shall develop personal living and finances objectives that focus on money management skills for individuals and families for appropriate, existing courses at the secondary level. The objectives must require the teaching of those skills necessary to handle personal business and finances and must include instruction in the following: (i) Opening a bank account and assessing the quality of a bank's services;(ii) Balancing a checkbook;(iii) Managing debt, including retail and credit card debt;(iv) Completing a loan application;(v) The implications of an inheritance;(vi) The basics of personal insurance policies;(vii) Consumer rights and responsibilities;(viii) Dealing with salesmen and merchants;(ix) Computing state and federal income taxes;(x) Local tax assessments;(xi) Computing interest rates by various mechanisms;(xii) Understanding simple contracts; and(xiii) Contesting an incorrect billing statement.(3) The State Board of Education shall have authority to expend any available federal funds, or any other funds expressly designated, to pay training, educational expenses, salary incentives and salary supplements to licensed teachers employed in local school districts or schools administered by the State Board of Education. Such incentive payments shall not be considered part of a school district's local supplement , nor shall the incentives be considered part of the local supplement paid to an individual teacher for the purposes of Section 37-19-7(1). (4) The State Board of Education shall through its actions seek to implement the policies set forth in Section 37-1-2.Codes, 1930, § 6553; 1942, § 6238; Laws, 1924, ch. 283; Laws, 1930, ch. 278; Laws, 1982, Ex Sess, ch. 17, § 5; Laws, 1999, ch. 360, § 1; Laws, 2005, ch. 356, § 1, eff. 7/1/2005.Amended by Laws, 2024, ch. 484, HB 4130,§ 30, eff. 7/1/2024.Amended by Laws, 2013, ch. 497, HB 369, 36, eff. 7/1/2013.