Page:United States Statutes at Large Volume 106 Part 1.djvu/658

 106 STAT. 626 PUBLIC LAW 102-325—JULY 23, 1992 "(B) The institution will not knowingly contract with or employ any individual, agency, or organization that has been, or whose officers or employees have been— "(i) convicted of, or pled nolo contendere or guilty to, a crime involving the acquisition, use, or expenditure of funds under this title; or "(ii) judicially determined to have committed fraud involving funds under this title. "(17) The institution will complete surveys conducted as a part of the Integrated Postsecondary Education Data System (IPEDS) or any other Federal postsecondary institution data collection effort, as designated by the Secretary, in a timely manner and to the satisfaction of the Secretary. "(18)(A) With respect to any institution that offers athleticsdly related student aid, the instikition will— "(i) cause an sinnual compilation, independently audited not less often than every 3 yeeirs, to be prepared within 6 months after the end of its fiscal year, of— "(I) the total revenues, and the revenues from football, men's basketbedl, women's basketball, all other - men's sports combined, and all other women's sports combined, derived by the institution from its intercollegiate athletics activities; "(II) the total expenses, and the expenses attributable to football, men's basketball, women's basketball, all other men's sports combined and all other women's sports combined, made by the institution for its intercollegiate athletics activities; and "(III) the total revenues and operating expenses of the institution; and "(ii) make the reports on such compilations and, where allowable by State law, the audits, available for inspection by the Secretary and the public. "(B) For the purpose of subparagraph (A)— "(i) revenues from intercollegiate athletics activities allocable to a sport shall include without limitation gate receipts, broadcast revenues, appearance guarantees and options, concessions and advertising, but revenues such as student activities fees or alumni contributions not so allocable shall be included in the calculation of total revenues only; and "(ii) expenses for intercollegiate athletics activities edlocable to a sport shall include without Kmitation grants-in- aid, salaries, travel, equipment, and supplies, but expenses such as general and administrative overhead not so allocable shall be included in the calculation of total expenses only. "(19) The institution will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that the student borrow additional funds, on any student because of the student's inability to meet his or her financial obligations to the institution as a result of the delayed disbursement of the proceeds of a loan made under this title due to compliance with the provisions of this title, or delays attributable to the institution.

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