DATE: June 7, 2018

SUBJ ECT: Creation of Center for Economic Education and Financial Literacy

FROM: ___ Office of Academic Affairs

ACTION ITEM: Yes

BACKGROUND: This proposal to establish a self-supporting and interdisciplinary Center for Economic Education and Financial Literacy at the Kentucky State University School of Business and Technology in the new College of Business and Computational Science is in response to the Kentucky House Bill 132 passed on March 12, 2018, requiring public school students in the Commonwealth of Kentucky to satisfy a financial literacy requirement before they can graduate. In addition, this is also a response to the new Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) standard (12.6), which requires institutions to provide information and guidance to help students make critical decisions with regards to personal finance. Therefore, through its research and educational programming, the Center will be able to assist school systems in the Commonwealth of Kentucky in fulfilling the mandate from House Bill 132 and serve as an analytical hub using action-research application in Evidence-Based practice to support both the Kentucky State Department of Education and SACSCOC.

SUMMARY OF PROGRAMS/ACTIVITIES: The mission of the Kentucky State University Center for Economic Education and Financial Literacy will be to undertake a wide variety of educational, research and outreach programming in economic and financial literacy and life skills for school systems in Kentucky. In addition, the Center will serve as a "Think-tank" and analytical hub for the Kentucky Department of Education in charge of the administration of House Bill 132, and to assist SACSCOC to increase the efficiency of its policies and programs.