The State Board of Education shall provide qualified public elementary and secondary schools and local school systems with grants, subject to appropriation by the General Assembly. The purpose of such grants shall be to give recognition to public schools and local school systems having demonstrated high levels of achievement, high levels of improved achievement, or to raise the performance of lower achieving schools or school systems. The amount of such grants shall be reflective of the most recent full-time equivalent counts of the qualified public schools or local school systems, respectively, and such other factors deemed appropriate by the state board. The public schools or local school systems receiving such grants may expend these funds in a manner they deem appropriate. Such recipients of the grants shall not be required to apply local funds to the expenditures authorized under this Code section. The state board shall adopt a list of achievement areas for which public schools and local school systems may receive grants and shall prescribe criteria, policies, and standards deemed necessary for the effective implementation of this Code section.