A. All funds collected from proprietary schools licensed pursuant to this Chapter, except payments made to the Proprietary School Student Protection Fund, shall be used exclusively for implementing and otherwise administering the provisions of this Chapter. The board shall annually update the commission regarding all funds collected and all expenditures made pursuant to the provisions of this Chapter.
B. The board shall assign employees to implement and administer the provisions of this Chapter. The duties and responsibilities of the employees shall be determined by the commissioner of higher education, subject to the approval of the board, but shall include responsibility for all administrative, clerical, legal, and financial matters associated with the licensing, monitoring, and evaluation of proprietary schools governed by this Chapter and with the operation of the commission.