Resource Guide - Texas Workforce Commission

(12) denying a program approval;
(13) requiring full or partial refunds to students for program violations or deficiencies;
(14) suspending the admission of students to the school;
(15) charging the school an investigation fee to resolve a complaint against the school; and
(16) charging the school interest and penalties on late payments of fee installments.
The provisions of this §807.17 adopted to be effective April 26, 2004, as published in the Texas
Register, April 23, 2004, 29 TexReg 3970.
SUBCHAPTER C. FINANCIAL REQUIREMENTS
§807.31. Definitions Relating to Financial Requirements
The following words and terms, when used in this subchapter, shall have the following meanings
unless the context clearly indicates otherwise.
(1) GAAP -- Generally Accepted Accounting Principles.
(2) GAAS -- Generally Accepted Auditing Standards.
(3) Sworn statement -- A notarized statement including the following language: "I swear or
affirm that the information in these statements is true and correct to the best of my
knowledge."
(4) Unearned tuition affidavit -- A statement of the highest amount of unearned tuition at any
time during the most recent fiscal year, the projected highest unearned tuition at any time
during the next fiscal year, and the gross amount minus refunds of student tuition and fees
earned during the fiscal year in all programs approved under the Act.
The provisions of this §807.31 adopted to be effective April 26, 2004, as published in the Texas
Register, April 23, 2004, 29 TexReg 3970.
§807.32. Financial Standards
(a)
The balance sheet required in this subchapter shall reflect the following:
(1) positive equity or net worth balance;
(2) unearned tuition as a current liability;
Chapter 807
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Last Modified: 4/26/04