; and (II) only to the extent that funds in that account represent designated funds, or income earned on such funds, from an outside source that— (aa) has no affiliation with the institution; and (bb) shares no employees with the institution; and (vi) exclude from revenues— (I) the amount of funds the institution received under part C of title IV, unless the institution used those funds to pay a student’s institutional charges; (II) the amount of funds the institution received under subpart 4 of part A of title IV; (III) the amount of funds provided by the institution as matching funds for any Federal program; (IV) the amount of Federal funds provided to the institution to pay institutional charges for a student that were refunded or returned; and (V) the amount charged for books, supplies, and equipment, unless the institution includes that amount as tuition, fees, or other institutional charges. (D) Report to congress Not later than July 1, 2018, and by July 1 of each succeeding year, the Secretary shall submit to the authorizing committees a report that contains, for each proprietary institution of higher education that receives assistance under title IV and as provided in the audited financial statements submitted to the Secretary by each institution pursuant to the requirements of section 487(c)— (i) the amount and percentage of such institution’s revenues received from Federal funds; and (ii) the amount and percentage of such institution’s revenues received from other sources. . (b) Repeal of existing requirements Section 487 of the Higher Education Act of 1965 ( 20 U.S.C. 1094 ) is amended— (1) in subsection (a)— (A) by striking paragraph (24); (B) by redesignating paragraphs (25) through (29) as paragraphs (24) through (28), respectively; (C) in paragraph (24)(A)(ii) (as redesignated by subparagraph (B)), by striking subsection (e) and inserting subsection (d) ; and (D) in paragraph (26) (as redesignated by subparagraph (B)), by striking subsection (h) and inserting subsection (g)