Maine Revised Statutes

1. Annual audit.  A private school approved for tuition purposes shall, on or before September 1st of each year, furnish to the State Auditor satisfactory proof that the books, accounts, financial documents and reports to the commissioner of the school for the preceding fiscal year have been examined and found to be in a satisfactory and accurate condition with proper vouchers on file. An audit must be made by the Department of Audit or by individuals or firms recognized as competent auditors by training and experience or by qualified public accountants.

2. Special audit.  Audits by the State Auditor may be requested by 3 or more duly elected and qualified officers of the private school. This audit must be conducted at the expense of the requesting school except when the audit is determined necessary by the commissioner.