This rule is adopted pursuant to the requirement of section 3333.042 of the Revised Code, as enacted in House Bill 111 of the 118th General Assembly.
(B) Preparation of budget requests
When distributing forms and instructions related to the preparation of operating and capital budget requests, the chancellor of the board of regents shall ensure that the Ohio aerospace institute receives copies and has the opportunity to forward requests for funding.
(C) Distribution of operating subsidies
If the state of Ohio appropriates funds to subsidize the operations of the Ohio aerospace institute, the chancellor shall release those funds only after the institute has provided a budget showing its sources and proposed uses of funds. The Ohio aerospace institute shall also provide to the chancellor of the Ohio board of regents audited financial statements within six months of the close of the institute's fiscal year.
(D) Capital improvements
Prior to the release of capital appropriations made to the chancellor for the purposes of the Ohio aerospace institute, the chancellor shall enter into an agreement with the institute that specifies that the facilities funded by the state shall be used for the purposes of aerospace education and research. The agreement shall meet the requirements of rule 3333-1-03 of the Administrative Code regarding agreements between higher education institutions and separate nonprofit corporations; except the requirements of paragraph (E)(10) of rule 3333-1-03 of the Administrative Code which deals with reimbursement from capital appropriations to an institution for administrative costs.