Md. Code Regs. 13B.02.06.11

Current through Register Vol. 51, No. 12, June 14, 2024

Section 13B.02.06.11 - Reporting

A. Each school shall file with the Secretary by November 1 of each year:

(1) A copy of the school's most recent audited financial statement;

(2) A copy of the school's most recent pro-forma statement; and

(3) A Financial Reporting Form, as prescribed by the Secretary, that requires, at a minimum, the following information for the most recent year beginning July 1 and ending June 30:

(a) The total number of students enrolled in the school;

(b) The total amount of adjusted tuition and fees;

(c) The total amount of non-Title IV adjusted gross tuition and fees;

(d) If applicable under Regulation .14 of this chapter, the percentages of revenue from federal and non-federal funds most recently reported to the U.S. Department of Education under 34 CFR § 668.28; and

(e) A declaration signed and dated by the chief executive officer of the school under penalty of perjury that the information in the Financial Reporting Form and any attachments are true and correct.

B. The timely filing of the reports in §A of this regulation is a condition of a school's continued approval to operate.

Md. Code Regs. 13B.02.06.11

Regulation .11 adopted effective 45:1 Md. R. 14, eff. 1/15/2018; amended effective 50:16 Md. R.727, eff. 8/21/2023