Ohio § 3345.70 Powers and duties of board where fiscal exigency declared

Ohio Statutes

§ 3345.70 — Powers and duties of board where fiscal exigency declared

Ohio § 3345.70

Title 33Education-Libraries

Ch. 3345State Universities - General Powers

This text of Ohio § 3345.70 (Powers and duties of board where fiscal exigency declared) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 3345.70 (2026).

Text

(A)Whenever the board of trustees of a state university, as defined under section3345.011of the Revised Code, declares that the university is in a state of fiscal exigency, the board shall do all of the following until it declares that the university is no longer in such a state:

(1)File quarterly reports on an annualized budget, comparing the budget to actual spending with projected expenses for the remainder of the year. Such reports shall include narrative explanations as appropriate.

(2)Place all residence hall and meal fees in a rotary account dedicated to the upkeep and maintenance of the dormitory buildings and to fund meal programs;

(3)Place moneys for the operation of residence hall and meal programs in separately maintained auxiliary funds in the university accounting syst

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(A) Whenever the board of trustees of a state university, as defined under section3345.011of the Revised Code, declares that the university is in a state of fiscal exigency, the board shall do all of the following until it declares that the university is no longer in such a state:

(1) File quarterly reports on an annualized budget, comparing the budget to actual spending with projected expenses for the remainder of the year. Such reports shall include narrative explanations as appropriate.

(2) Place all residence hall and meal fees in a rotary account dedicated to the upkeep and maintenance of the dormitory buildings and to fund meal programs;

(3) Place moneys for the operation of residence hall and meal programs in separately maintained auxiliary funds in the university accounting system;

(4) File the minutes from their board of trustees meetings with the chancellor of higher education within thirty days of their meetings.

(B) No state university described under division (A) of this section shall do any of the following:

(1) Use state funds for the purpose of providing grants or scholarships to out-of-state students;

(2) Use state funds to subsidize off-campus housing or subsidize transportation to and from off-campus housing.

(C) The requirements of divisions (A)(2) and (3) of this section are subject to the provisions of any applicable bond proceedings as defined under division (A)(9) of section3345.12of the Revised Code and to any applicable pledge made as authorized by division (R) of section3345.12of the Revised Code.