183.30 Administrative expenses. - Ohio Statutes

183.30 Administrative expenses.

(A) Except as provided in division (C) of this section, no more than five per cent of the total disbursements, encumbrances, and obligations of the southern Ohio agricultural and community development foundation in a fiscal year shall be for administrative expenses of the foundation in the same fiscal year.

(B) Except as provided in division (C) of this section, no more than five per cent of the total disbursements, encumbrances, and obligations of the biomedical research and technology transfer trust fund in a fiscal year shall be for expenses relating to the administration of the trust fund by the third frontier commission in the same fiscal year.

(C) This section’s five per cent limitation on administrative expenses does not apply to any fiscal year for which the controlling board approves a spending plan that the foundation or commission submits to the board.

Effective Date: 07-01-2003; 09-05-2006; 2008 HB544 05-06-2008