Ohio Code § 1713.041

§ 1713.041.

(A) Each institution or school authorized to offer courses or degrees under a certificate

of authorization annually shall provide to the chancellor of higher education all

of the following: (1) Verification of current accreditation status and a copy of the most recent institutional

report from the institution's accrediting organization; (2) A plan to preserve student records indefinitely in the event of closure of the institution

or discontinuation of service.  The plan shall include a method by which students and alumni of the institution

may retrieve student records by request.  The plan also shall include a designation and signed confirmation of an official

custodian of student records.  Student records preserved under the plan shall include, but not be limited to: (a) Academic transcripts; (b) Financial aid documents; (c) International student forms; (d) Tax information. (3) The following program information: (a) A list of current degree programs offered by the institution in this state; (b) The results of any external degree program evaluations conducted in the last year; (c) A list of any degree programs that have been eliminated in the last year; (4) The latest financial statement for the most recent fiscal year compiled and audited

by an independent certified public accountant, including any management letters provided

by the independent auditor; (5) Any other information requested by the chancellor. (B) If an institution or school fails to submit the information required under division

(A) of this section or if the chancellor finds that the information submitted under

that division is insufficient, the chancellor may suspend, withdraw, or revoke an

institution or school's institutional authorization or a program's authorization. (C) Each institution or school shall immediately notify the chancellor if the institution

or school does any of the following: (1) Receives notice from the federal government or an institutional accrediting organization

that the institution or school is subject to heightened reporting standards or special

monitoring status, such as the United States department of education's heightened

cash monitoring process; (2) Receives preliminary or final accreditation findings; (3) Becomes the subject of an investigation by a government agency related to the institution's

academic quality, financial stability, or student consumer protection; (4) Fails to make any payments to applicable retirement systems; (5) Fails to make any scheduled payroll payments; (6) Fails to make any payments to vendors when due as a result of a cash deficiency or

a substantial deficiency in the payment processing system of the institution; (7) Fails to make any scheduled payment of principal or interest for short- or long-term

debt; (8) Makes budget revisions resulting in a substantially reduced ending fund balance or

larger deficit; (9) Becomes aware of significant negative variance between the most recently adopted

annual budget and actual revenues or expenses as projected at the end of the fiscal

year. (D) A document received by the chancellor under division (C)(1), (2), or (3) of this

section that is confidential under federal law is not subject to release under a public

record request until such time as the document is released publicly by the appropriate

entity.  Further, financial documentation of the institution or school received by the chancellor

under this section is not a public record under section 149.43 of the Revised Code .