Annually, a program shall submit the following to the Board: An annual report on the form that the Board requires; A program catalog; Any annual reports to the BRNAA; Any correspondence related to the status of the program's accreditation; A summary of practices followed in safeguarding the health and well-being of students; An audited fiscal report covering the previous 2 years, including a statement of income and expenditures; and Accurate and complete data including, but not limited to, number of enrollments, admissions, graduates, and faculty. Annually, the Board shall: Review each program’s annual report, supporting documentation, and the licensure examination performance of first-time candidates from each program; Notify each program achieving less than 90 percent of the national success rate; and If necessary, conduct a survey or site visit, issue recommendations, place a program on conditional approval, or issue a formal notice of violation and withdraw approval in accordance with Regulation .17 of this chapter. Approval may be reduced to conditional status for the following reasons: Noncompliance with this chapter; Failure to hire faculty who meet the qualifications as stated in Regulation .08 of this chapter; Noncompliance with the school’s stated philosophy, program design, objectives, or policies; Failure to submit records and reports to the Board in a timely manner; Failure to implement the approved curriculum; In accordance with §D of this regulation, failure to maintain the required passing rate on the licensing examination by first-time candidates; Failure to annually document that all faculty have current licenses; and Other activities or situations, as determined by the Board, that indicate a program is in jeopardy of violating statutory and regulatory requirements and standards. Unacceptable Performance on Licensure Examination. The Board shall issue a warning to a program when the pass rate of first-time candidates does not comply with §B(2) of this regulation. For the first year a program does not meet the requirements of §B(2) of this regulation and following the warning in §D(1) of this regulation, the program shall, within 30 calendar days, provide to the Board: A report that identifies the factors believed to have contributed to the unacceptable performance; and An action plan to be approved by the Board. Second Successive Year Not in Compliance. For the second successive year that a program is not in compliance with §B(2) of this regulation, the program shall be placed on conditional approval and shall: Provide the Board with a report analyzing all aspects of the educational program and identifying areas that may be contributing to the unacceptable performance; and Obtain the services of a Board-approved outside consultant with expertise in nursing education congruent with program needs. The Board’s professional staff shall conduct a survey visit to the school and provide a report to the Board. If compliance with the minimum licensure examination performance standard for first-time candidates is not made by the program within 1 examination year from the date of conditional approval, approval may be withdrawn.