Why are they wasting valuable time and resources in doing so?

I understand that this is privately funded, but this is an opportunity cost for the students too. US youth ranks #29 in science education and is dismal on math rankings as well. Kids in Asia VASTLY outrank American kids with less money per student.

Is this really the right time to be teaching them the Bible?

As for the ethics and morals, there is an IMPROVEMENT in ethics when you break AWAY from the Bible.

Slavery was justified because of the Christian Bible. The South was winning the secular battle during the Civil War. Christianity also supported slavery in Europe The same goes for womens' rights, interracial marriage, and now the fight for gay rights.

The West has made staggering progress in the last 200 years because we no longer cling to superstition and faith. If we want a better society, we'll do the same with flawed Christian morality