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NYS Comptroller


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State Education Department
Audit of the Tuition Reimbursement Account for the
Three Fiscal Years Ended March 31, 2013

Issued: July 24, 2014
Link to full audit report 2014-S-17

To express an opinion on the fair presentation of the Financial Statements of the Tuition Reimbursement Account for the three fiscal years ended March 31, 2013.

Students are eligible for a tuition refund when they are enrolled in a post-secondary private school licensed by the State Education Department (Department), or in a business school registered with the Department, that closes before their education is completed. When such schools violate the Education Law (Law) - but remain in operation - students who drop out are also eligible for a tuition refund. Students in such schools are also eligible to have their student loans repaid by the Department. Chapter 887 of the Laws of 1990 created the Tuition Reimbursement Fund, now titled the Tuition Reimbursement Account Special Revenue Fund (TRA), to protect the financial interests of these students. Chapter 887 of the Laws of 1990 also created the Proprietary Schools Vocational Supervision Account (Supervision Account) to support Bureau of Proprietary Schools (Bureau) operations. The Bureau monitors licensed private schools and registered business schools to ensure compliance with applicable provisions of the Law and the Commissioner of Education's Rules and Regulations (Regulations).

Key Finding

  • In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the TRA as of the three fiscal years ending March 31, 2013, and the respective changes in financial position for the years then ended, in accordance with accounting principles generally accepted in the United States of America.

Key Recommendations

  • None

Other Related Audits/Reports of Interest

State Education Department: Tuition Reimbursement Account for the Three Fiscal Years Ended March 31, 2010 (2010-S-39)

State Government Accountability Contact Information:
Audit Director: John Buyce
Phone: (518) 474-3271; Email:
Address: Office of the State Comptroller; Division of State Government Accountability; 110 State Street, 11th Floor; Albany, NY 12236