Section 5-A8108. FINANCES

 

8108.1A school shall have adequate financial resources to achieve its mission and goals.

 

8108.2A school shall have the following:

 

(a)Plans and arrangements for the medium and long term financial stability of the school;

 

(b)Ultimate authority in the governing body to allocate financial resources and for the accountability for such resources;

 

(c)An adequate staff, policies and procedures for budgeting and accounting for its resources;

 

(d)A written enrollment agreement, which clearly sets forth the obligations of the school and the student;

 

(e)Adequate arrangements for assuring strict compliance with the requirements of any student or school financial assistance provided by government agencies; and

 

(f)An annual audit by an independent certified public accountant, or other financial statement acceptable to the Commission.

 

source

Final Rulemaking published at 37 DCR 6619, 6622 (October 19, 1990).