N.J. Admin. Code § 12:41-2.4

Current through Register Vol. 56, No. 11, June 3, 2024

Section 12:41-2.4 - Application for Renewal of Certificate of Approval for private career schools

(a) Any private career school that seeks to apply for renewal of a Certificate of Approval shall make a written Application for Renewal of a Private Career School Certificate of Approval.

1. The Application for Renewal of a Private Career School Certificate of Approval shall have two components as described in 12:41-2.2(a)1.

(b) A completed Application for Renewal of a Private Career School Certificate of Approval, including all information and documents required thereunder, shall be submitted by the approved private career school to the Training Evaluation Unit not less than 90 calendar days prior to expiration of the existing Certificate of Approval.

(c) The approved private career school applying to renew its Certificate of Approval shall pay a non-refundable renewal application fee of $ 900.00, payable to the State Treasurer.

(d) The information and documents to be submitted by the private career school for review and evaluation by the Training Evaluation Unit for renewal of a Certificate of Approval shall include the following:

1. A completed application form provided by the Department of Labor and Workforce Development;

2. A signed and notarized Statement of Assurances, which attests to the accuracy and truthfulness of the representations made in the Application for Renewal of a Private Career School Certificate of Approval;

3. The following financial documents to support tuition income and financial soundness of the school, which shall be no more than 12 months old:

i. Financial statement audited by an independent certified public accountant (if the New Jersey school is part of a larger organization, then the audited financial statement shall include a statement detailing tuition income for the New Jersey school location(s));

ii. Financial statement compiled or reviewed by an independent certified public accountant (if the New Jersey school is part of a larger organization, then the compiled or reviewed financial statement shall include a statement detailing tuition income for the New Jersey school location(s));

iii. For sole proprietors, a signed copy of Form 1040, U.S. individual income tax return and Schedule C(s);

iv. For partnerships, a signed copy of the complete Form 1065, U.S. Return of Partnership Income, including all schedules;

v. For S Corporations, a signed copy of the complete Form 1120S, U.S. income tax return for an S Corporation, including all schedules; or

vi. For corporations, a signed copy of the complete Form 1120, U.S. corporation income tax return, including all schedules;

4. Current tuition performance bond, which includes the information set forth at 12:41-2.2(a)5i through vii, payable to the Commissioner of the Department of Labor and Workforce Development in the amount of $ 20,000 or five percent of the average gross tuition income for the past three years, whichever is greater;

5. Proof of continued liability insurance and workers' compensation insurance;

6. Current fire inspection certificate;

7. Current health inspection certificate, if appropriate;

8. Verification that the school complied with the annual reporting requirement, contained within N.J.A.C. 12:41-3.2, for the immediately preceding fiscal year; and

9. Modifications to any documentation provided as part of the Application for Initial Approval of a Private Career School.

(e) Requirements for the component reviewed and evaluated by the Department of Education shall be governed by N.J.A.C. 6A:19-7.

N.J. Admin. Code § 12:41-2.4

Adopted by 48 N.J.R. 2816(b), effective 12/19/2016