Subject to sections 3345.0212 to 3345.0214 of the Revised Code, the board of trustees of any college or university, which receives any state funds in support thereof, shall have full power and authority on all matters relative to the administration of such college or university.

The board of trustees of any such college or university may delegate any administrative authority to the president of any such college or university, or to such other administrative personnel as may be designated or appointed therefor by the board of trustees.