Ohio Admin. Code 3341-6-59
The university receives Title IV federal student aid. Section 117 of the Higher Education Act of 1965 (20 U.S.C. 1011f) requires higher education institutions that receive Title IV federal student aid to submit disclosure reports to the secretary of education about gifts received from any foreign source, contracts with any foreign entity, and any ownership interest in, or control over the higher education institution by a foreign entity which the aggregate value is two hundred fifty thousand dollars or more. Whenever it appears that an institution has failed to comply with the requirements of that section, including any rule or regulation promulgated under that section, a civil action may be brought by the attorney general.
This policy implements the requirements of Section 117 of the Higher Education Act of 1965 (20 U.S.C. 1011f), which requires the university to disclose gifts, contracts, and/or restricted and conditional gifts or contracts from or with foreign sources ("Section 117 Transaction") to the U.S. department of education ("department"). University departments involved in a section 117 transaction must report these transactions semi-annually to the controller's office as described in this policy.
Each unit at Bowling Green state university, including university advancement, is responsible for identifying and reporting gifts received from any foreign source, contracts with any foreign entity, and any ownership interest in, or control over the higher education institution by any foreign entity. The department will ensure that all the required information to complete the Higher Education Act section 117 report is recorded and submitted to the controller's office on a semi-annual basis. The vice president of the applicable department's division will serve as the "signing authority" in attesting to the gifts and contracts reported from foreign sources, and all signing authorities accepting contracts and/or gifts are expected to report completely and in a timely manner. The controller will be responsible for the semiannual reporting of these gifts and contracts.
Each department should retain the following information in the event there is a need to produce additional information later: department/individual recipient, principal investigator's name/contact, agreement number, sponsor name, sponsor address, project title, amount received and copy of agreement or contract. The aggregate threshold of two hundred fifty thousand dollars may be triggered by a combination of gifts or contracts from a single foreign source, and that such gifts or contracts (or information about those transactions) may be administered in a number of departments within the university. For this reason, the controller's office shall review the semi-annual submissions and report any gifts or contracts that exceed the aggregate threshold for all foreign source contracts and gifts received.
HEA section 117 reports are due twice per calendar year: January thirty-first (covering the previous July first - December thirty-first period) and July thirty-first (covering the previous January first -June thirtieth period). A school must report information by January thirty-first or July thirty-first (whichever is sooner) after the date of receipt of the gifts, date of the contract, or date of ownership or control. To facilitate controller's office's aggregation and preparing to file the federal report, departments must submit all disclosures by January tenth (for the previous July first -December thirty-first period) and July tenth (for the previous January first - June thirtieth period).
Ohio Admin. Code 3341-6-59
Promulgated Under: 111.15
Statutory Authority: 3341
Rule Amplifies: 3341