Finance
Florida’s public high school students benefitting from financial literacy requirement
Do you know the difference between interest rates and mortgage rates? What about a high-yield savings account?
Many of us learn about these terms well into adulthood, if at all, whereas public high school students in Florida do not.
That’s because financial literacy is now a requirement for graduation.
Ms. Martha Delgado doesn’t teach your typical high school class. When students leave her classroom, many will be well ahead of most adults in managing money.
“I worked during the summer, so 30% of my paycheck goes to my savings and the rest goes to my wants and needs,” Willne Pierre said.
Robert Morgan High School juniors Pierre and Diego Acosta are part of a growing group of Florida public school students who will graduate equipped with financial literacy and money management skills.
It’s all thanks to the Dorothy L. Hukill Financial Literacy Act that Gov. Ron DeSantis signed into law in 2022. The law requires students to take a personal finance course, and the class of 2027 will be the first class to graduate under the new requirement.
The instruction students are getting goes beyond opening a checking or savings account; they’re also learning how to invest, use credit cards responsibly, understand credit scores, and even apply for financial aid when they go to college.
“They’re learning about when you go to get loans, how do the loans work, compound interest, simple interest, things that I would’ve loved to have when I was growing up as an adult and applying for a loan for a house or a loan for a car,” Delgado said.
Low financial literacy often leads to high debt. Across the country and here in South Florida, people are carrying more debt.
A data tool, the Opportunity Atlas, from the U.S. Census Bureau and Opportunity Insights at Harvard University, takes us inside how South Floridians are faring financially in adulthood.
When looking at people born between 1978 and 1985 across all income levels and races, those in Miami-Dade County had some of the highest levels of debt in the state.
In 2020, the average credit card balance was $5,800, and the average student loan balance was around $18,000.
The average credit scores of those growing up in Miami-Dade were lower than the national average.
“I feel like I can better help my kids because I love my mom, but she hasn’t been able to help me because she doesn’t understand that much, but Ms. Delgado was able to help me, and I want to help other people too,” Acosta said.
Delgado can relate to many of her students, who, like her, come from homes where their parents aren’t able to teach them to manage money responsibly.
“My dad was the single breadwinner,” she said. “We were five kids, so it was a lot for my father, so my dad was just work, work, work, work, so he really didn’t have the time or the tools to tell me anything about financing.”
The Opportunity Atlas shows the economic mobility disparities, that 90% of children born in 1940 earned more than their parents, but today only half do.
But it’s classes like Ms. Delgado’s that could go a long way to help bridge the wealth gap.
Acosta and Pierre are already well on their way to a better financial future. At only 16, both are QuickBooks-certified, and they’re not stopping there.
“My long-term goal is definitely to save for a house that’s number one, and I’m already starting to save for college,” Pierre said.
With rising interest rates, a war in the Middle East and high fuel prices, a lot of property investors are likely feeling a little cautious about the current environment. For many buyers, the instinct to wait for certainty feels like the responsible thing to do.
Wait until interest rates stabilise, the news headlines improve or until the market feels safer. But in property, certainty often comes at a cost.
Some of the most significant buying opportunities emerge during periods of uncertainty, when headlines are negative, confidence is low, and most buyers are sitting on the sidelines. This pattern has a name. I call it the V effect.
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The V effect captures what typically happens during periods of disruption, whether economic shocks, natural disasters or geopolitical events. Markets experience a sharp drop in activity and sentiment, followed by a recovery that can be just as swift. At the bottom of that V is where opportunity tends to be the highest.
During this phase, competition thins out, vendors become more flexible, and some withdraw their listings entirely. Properties take longer to sell. The market slows, but it does not stop.
The length of any downturn depends on the nature of the disruption. Localised events such as flooding or cyclones may compress activity for two to four months while recovery takes place. Broader economic or geopolitical shocks can extend that window, but sentiment can also rebound quickly once confidence returns. What remains consistent is the pattern itself.
When uncertainty peaks, activity drops. When certainty returns, buyers flood back in. And this is where many buyers misread the cycle. By waiting for conditions to feel safer, they are effectively waiting until the market has already begun recovering, moving up the right-hand side of the V. Competition intensifies, prices firm up, and your ability to negotiate diminishes. The moment that feels the safest to buy is often the most expensive one.
Buyers who act during uncertainty position themselves differently. They face less competition, have far greater negotiating power and can secure properties on better terms. When the market recovers, as it has consistently done throughout history, those buyers benefit from the uplift that follows.
LEXINGTON, Ky. — As the school district works to rectify potentially decades of inaccurate accounting, two finance employees with Fayette County Public Schools are on paid leave. At the same time, two external reviews continue for Kentucky’s second-largest school district.
FCPS Superintendent Demetrus Liggins said he’s been made aware of troubling and deeply concerning information.
“I’ve spoken with several of our district’s financial advisor and our external audit firm and have conducted our that’s conducted our routine audit. and those conversations have also revealed issues that I was unaware of,” Liggins said.
One review is from accounting firm Weaver and Tidwell, hired by the district, and another, which Liggins said he requested, is being conducted by the auditor of public accounts.
While those reviews are ongoing, and based on preliminary reporting, Liggins said he’s been informed of both inaccuracies and improper accounting practices that date back to 2008.
Last month, the district hired Kyna Koch, a former associate commissioner of finance for the Kentucky Department of Education, as the interim chief financial officer.
Since taking on the task, she said she doesn’t have confidence in the numbers she’s been asked to review.
“Federal and state requirements may not have been followed, and our accounting procedures may not have been aligned with acceptable practices,” Koch said.
Koch said inaccuracies were found in revenue collection, record-keeping, invoicing, and that spending guidelines may not have been followed.
Now she’s helping set new measures, like additional reviews, to dig deeper and provide a clearer financial picture.
“It’s clear that these practices are sometimes nuanced and not easily identified through routine financial reports that are provided to the superintendent and the board. Some of these things would not have been readily apparent based on the information typically generated,” Koch said.
Koch is also recommending that the district get a short-term loan to cover expenditures until next fall’s property taxes are collected.
Though the district is not releasing names at this time, Liggins did comment on the status of some finance administrators.
“We currently have three administrators in our financial and accounting office. Two are on paid administrative leave, and one is on medical leave,” Koch said.
Those on paid administrative leave are pending an investigation.
Liggins said while they are still awaiting finalized reports from those outside audits, they’re aiming for accuracy and transparency in their next moves.
“As we continue this work, I’m committed to following the facts wherever they may lead, and whatever they may uncover, we’re only after the truth,” Liggins said.
Liggins was asked on Thursday whether property taxes would increase for the 2026-27 school year. He said they are not currently planning to ask the board to raise property taxes any more than they typically have in years past.
On Monday, Koch will present her latest findings to the board at its regularly scheduled finance meeting.
Koch also said the district plans to have a loan proposal ready as soon as next month.
SEATTLE — The King County Regional Homelessness Authority’s governing board approved a hiring freeze on Friday and ordered a finance committee review after an audit revealed millions of dollars in unaccounted taxpayer funds.
The vote came late Friday afternoon amid growing calls to disband the agency.
RELATED: City, county councilmembers move to dissolve KCRHA after audit flags $13M unaccounted for
KCRHA CEO Kelly Kinnison told the board there are “no missing funds,” despite the audit indicating about $13 million could not be accounted for. The report also found the agency lacked a chief financial officer, had missing receipts, and allowed purchasing card use with little oversight.
Mike Nurse, a certified fraud examiner with Clark Nuber, detailed the independent audit during a presentation that lasted more than an hour. He said the agency’s structure as a “pass-through entity” for the city and county, combined with weak internal controls, contributed to financial issues, including a negative cash balance and funds that may not be recoverable.
The governing board is co-chaired by King County Executive Girmay Zahilay and Seattle Mayor Katie Wilson. Wilson attended the meeting remotely and briefly addressed the board, reiterating earlier comments that all options remain on the table.
Wilson declined to comment when approached by a reporter earlier Friday.
Zahilay led much of the discussion, and the board unanimously approved the finance committee review. Wilson’s office, represented by Deputy Mayor Brian Surratt, supported the measure, including the addition of a hiring freeze.
PREVIOUS COVERAGE: $13M missing: Seattle leaders call attention to ‘egregious’ regional homelessness audit
Just 24 hours earlier, Seattle City Councilmember Maritza Rivera and King County Councilmember Rod Dembowski announced they were sponsoring a joint resolution to eliminate the KCRHA and unwind the agency over the course of the next year.
Zahilay did not go that far when asked about the possibility on Friday.
“This is not a light switch that can be turned on and off,” he said. “We have to think through all of the ramifications. There are contracts, there is federal funding at risk, there are people’s jobs, and most importantly, we don’t want to disrupt services.”
Seattle City Councilmember Alexis Mercedes Rinck, who previously worked as a director at KCRHA, now serves on the governing board. Speaking after the meeting, she said she left the agency three years ago in part because of concerns about its operations.
“I left three years ago primarily because of the dysfunction I was witnessing within the agency,” Mercedes Rinck said.
She said her focus now is on understanding the full scope of the situation.
“My focus in this moment is ensuring that we really sort out what the truth is in this matter,” she said.
Asked whether it is time to dissolve KCRHA, she urged caution.
“It’s important that we don’t take any knee-jerk reactions when we’re talking about immediate changes,” she said.
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