FOR IMMEDIATE RELEASE
June 29, 2020
Audit Highlights Need for Better Monitoring of Trademark Revenues at North Dakota State University
Contact information: Brianna Ludwig, North Dakota State Auditor’s Office, 701-328-2453, email@example.com
State Auditor Joshua Gallion today released an audit of North Dakota State University that found the University is not monitoring the NDSU trademark royalty revenues properly and does not have a policy to in place regarding the distribution of the trademark royalty revenues. The audit also found faculty personnel files are incomplete and there is missing documentation related to large-scale construction projects that happened in the July 2017-June 2019 timeframe.
"The University should ensure revenues received from trademarks are being used responsibly and effectively,” said Auditor Gallion. “That means monitoring revenues and having a proper policy in place.”
This audit is a result of the State Auditor’s Office statutory responsibility to audit or review each state agency once every two years. The complete audit report can be found on our website, https://bit.ly/NDSU19Audit.
The North Dakota State Auditor’s Office is a constitutional office that produces informative audits to improve government. The Office of the State Auditor is a valuable tool for North Dakota state agencies and local government entities, providing an opportunity to improve operations, fiscal responsibility and taxpayer services.