4723-25-03 Fund balance.

In order to maintain a fiscally responsible fund balance in the nurse education grant program fund, the board shall attempt at all times to retain an unobligated balance of approximately five percent of the amount anticipated to be collected for the fund during the two year fund cycle. The board may utilize this reserve funding as it deems necessary or appropriate to accomplish the goals of the nurse education grant program as set forth in section 4723.063 of the Revised Code. The board shall not use any reserve funds for costs associated with the board’s administration of the grant program.

HISTORY: Eff 2-1-05

Rule promulgated under: RC 119.03

Statutory Authority: 4723.063

Rule Amplifies: 4723.063

R.C. 119.032 review dates: 02/01/2010