Audit: DSU losing money on bookstore since it was privatized
BISMARCK, N.D. (AP) — A state audit shows Dickinson State University has lost money on its bookstore since its operations were turned over to a private company.
State Auditor Joshua Gallion says the audit that was released Tuesday found the school reported no revenue during fiscal 2018, which was the first year of an eight-year contract with Follett Higher Education Group.
Gallion says before the contract was awarded to the private company, the university reported net revenue of up to $350,000 a year.
The audit says the university failed to properly review the contract when it was awarded in 2017.
The school says it will work to ensure "all required provisions are included and the contract reflects the proposal."