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What are the financial requirements for Initial Applicants?

ACICS expects that institutions evidence financial stability as required in Section 3-1-203 of the Accreditation Criteria. The Council's policy on financial stability for initial applicants for accreditation is described below. There will be an Initial Review of Financial Stability upon receipt of application. The institution must meet the following criteria before a resource visit will be scheduled.

Submit audited financial statements for the most recently completed fiscal year that demonstrate:

o Positive net assets,
o Current ratio of current liabilities to current assets at or above 1:1, and
o Annual loss, if any, of no more than the net assets reported.

Institutions that do not fulfill the above criteria may discuss with ACICS alternate ways and conditions to establish financial stability.