State Regulatory Authorization
Virginia University of Lynchburg is a member of the National Council for State Authorization Reciprocity Agreements (NC-SARA), which allows online delivery of distance education to other member states. VUL continues to monitor developments in the relevant laws in every state. If authorization is necessary or becomes necessary, Virginia University of Lynchburg will obtain the necessary approvals.
State Contact Information
Pursuant to the United States Department of Education’s Program Integrity Rule, each institution of higher education is required to provide all prospective and current students with the contact information of the state agency or agencies that handle complaints against postsecondary education institutions offering distance learning within that state. Students are encouraged to use Virginia University of Lynchburg’s internal complaint policies and procedures prior to filing a complaint with a state agency.
Accreditation
Virginia University of Lynchburg (VUL) is a member of the Transnational Association of Christian Colleges and Schools (TRACS) 15935 Forest Road, Forest VA 24551; Telephone: (434) 525-9539; e-mail: info@tracs.org, having been awarded Reaffirmation II of its Accredited Status as a Category IV institution by the TRACS Accreditation Commission on April 12, 2021. This status is in force through April 12, 2031. TRACS is recognized by the United States Department of Education (ED), the Council for Higher Education Accreditation (CHEA), and the International Network for Quality Assurance Agencies in Higher Education (INQAAHE).
The institution was placed on Warning in October 2023, with follow-up reporting due December 8, 2023, on the following Standard: 11.2 (Financial Operations).
Virginia University of Lynchburg is working with its Certified Public Accounting firm to provide the outstanding audit required under TRACS Standard 11.2 (see below). The Warning is not related to the adequacy of the institution’s finances to support the staffing, facilities, equipment, materials, and support services for the approved programs or the institution’s financial viability. The institution’s most recent composite score is 3.0, which measures the institutions financial health of institutions along a scale from negative 1.0 to positive 3.0. A score greater than or equal to 1.5 indicates the institution is considered financially responsible.
TRACS Standard 11.2
A certified external audit of the institution’s financial statements is conducted each year under the standards applicable to financial audits contained in the Government Auditing Standards and in accordance with auditing standards generally accepted in the United States of America or comparable auditing standards for institutions located in foreign jurisdictions. Final audit reports along with all management letters are submitted to the TRACS office annually within 5 months of the close of the institution’s fiscal year. (See definition of Certified External Audit.) Audits demonstrate a recent history of financial stability. (See Definition of Financial Stability.) Institutions organized as non-profit or not-for- profit entities must have their audits prepared using the “net asset” model of accounting consistent with the policies and procedures provided by the American Institute of Certified Public Accountants (AICPA) in its document, Audit and Accounting Guide: Not-for-Profit Organizations: 2017, or any later enacted version, or comparable international guidance for such audits. (IER)