Legal Resources | Title 5 | 74002
Chapter 4. Institutions - General Provisions. Article 1. Fees and Payment Schedule. Definitions.
(a) "Annual fee" or "annual institutional fee" is the fee required by subdivision (d) of section 94930.5 of the Code.
(b) "Annual gross revenue" means all revenue such as tuition, fees, and other charges derived by an institution, during its last fiscal year ending before the due date of an annual fee payment, from any source for any education, instruction, training, or any services incident thereto. "Annual gross revenue" does not include unearned tuition and refunds. An institution shall account for "annual gross revenue" in accordance with generally accepted accounting principles.
Authority cited:
Education Code 94803
Education Code 94877
Reference:
Education Code 94930.5
(Amended by Register 2010, No. 47.)