New Hampshire Code of Administrative Rules
Pos - Postsecondary Education Commission
Chapter Pos 1100 - LICENSING OF PRIVATE POSTSECONDARY CAREER SCHOOLS
Part Pos 1104 - OTHER REQUIREMENTS
Section Pos 1104.06 - Finance

(a) Financial resources shall be adequate for the effective achievement of the purposes and objectives of the school and for meeting all obligations.

(b) The school shall have a net worth consisting of sufficient liquid assets or other evidence of fiscal soundness sufficient to operate the school during the period of authorization.

(c) Financial records shall be kept by the school in conformity with generally accepted accounting principles.

(d) Annual financial statement, which detail the financial condition of the school, shall be prepared by school management and reviewed or audited by a licensed certified public accountant or licensed public accountant in accordance with standards established by the American Institute of Certified Public Accountants.

(e) A copy of the school's most recent annual financial statements shall be filed each year with the school's application. If the school is not incorporated, then the director shall accept the owner's federal income tax statements with all attachments.

(f) Upon a school's written request, the director may authorize a filing extension for a period not to exceed thirty days for good cause shown.