With the approval of the Director of the Office of Management and Budget and the Controller General, the Department of Education, hereinafter referred to as “Department,” is directed and authorized to develop a program of financial responsibility training to instruct district and charter leaders, members of school boards, including vocational-technical school boards, and the boards of charter schools, in properly discharging their responsibility to ensure that public funds, including both state and local funds, are appropriately managed and expended, and shall also include training on state and local funding of public education. The Department is authorized to promulgate rules and regulations to implement such a program of training and each of the district and charter leaders and members of the aforementioned boards shall be required to attend such training as may be required by the Department pursuant thereto. For purposes of this section, “district leaders” is defined as the district superintendent and business manager and “charter leaders” is defined as the head of school or principal and business manager. If 1 individual acts in a dual capacity as both superintendent and business manager or as head of school or principal and business manager, the district or charter school shall designate a second individual to attend the training.