Dickinson State is losing out on big dollars because of a change to their bookstore according to the State Auditor’s Office.
Follet Higher Education Group runs the campus bookstore after signing an 8-year contract with DSU.
The college is supposed to receive a commission on books sales above $750,000.
However, the audit says DSU failed to review final contract information regarding compensation and a change made by Follett is not in the college’s favor.
The audit says AT BEST the University could collect $10,000 a year, in prior years the school was profiting anywhere between $260,000 and $350,000 per year.
In the first year of the contract, DSU received no money from bookstore sales.
The Auditor’s office says DSU also failed to put in a clause that the contract should be reviewed every two years per University System policy.
The failure to put that clause in the contract will not allow renegotiation of the terms of the bookstore commission.
The contract is from October 2017 to September 2025.