On that list is also the ability to talk to the teacher. If they don't have the money, they don't get the 'privilege' of going to the bathroom or sharpening the pencil if need be.
BS, no teacher would get away with not talking to a student or not letting the child go to the bathroom. My daughter has something similar with her teacher but they aren't "given" money at the beginning of the term, they have to earn money and get to spend it on different privileges like "buying" cute pencils, erasers, extra reading time or free time, etc. It is a way of teaching them responsibility and how money works. When you run out of money for the month you can't spend what you don't have.....unlike the Democrats.
The OP's teacher sounds like a socialist to me (if the story is true, which I highly doubt). The teacher GIVES the kids money and tells them how to use it. My daughter can choose not to buy anything or blow it all in one day. If she comes up short at the end of the month she can still talk to the teacher and use the bathroom.