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

8108.2 A school shall have the following:

1. (a) Plans and arrangements for the medium and long term financial stability of the school;
2. (b) Ultimate authority in the governing body to allocate financial resources and for the accountability for such resources;
3. (c) An adequate staff, policies and procedures for budgeting and accounting for its resources;
4. (d) A written enrollment agreement, which clearly sets forth the obligations of the school and the student;
5. (e) Adequate arrangements for assuring strict compliance with the requirements of any student or school financial assistance provided by government agencies; and
6. (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).