A. Each school shall file with the Secretary by September 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; and
(d) 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.