Revenue trending slightly ahead of the prior year (approximately $9.8 million at that early point).
Expenditures trending below the prior year (approximately $7.0 million vs. $8.6 million), reflecting tighter internal controls and the paced release of budget authority.
Auxiliary net revenue temporarily behind prior-year levels due to timing differences and reclassification of certain expenses (including online program costs and audit fees).
Dr. Bigard indicated that by the next regular Board meeting the university expects to present clearer year-end projections and more robust comparative data.
Dr. Bigard presented a proposed contract with Follett to continue operating the university bookstore. She explained that:
Follett manages textbook distribution and campus merchandise.
The university has implemented an ACCESS program for course materials, under which students are charged $37 per credit hour for digital textbooks and courseware, and the university pays Follett $26 per credit hour for those materials.
In FY 2024, the ACCESS program generated approximately $1.4 million in student charges, with roughly $1.3 million paid to Follett. Because this exceeds the Board’s $1 million contract threshold, Board approval is required even though the underlying relationship is longstanding.
In discussion, Regents and Regent Childs raised several student-centered issues:
Affordability of merchandise, including the high cost of items such as letterman jackets (e.g., around $300) at a time when many students are struggling with tuition and balances.
The timing and frequency of bookstore sales, noting that Follett's major 50% off sale occurs during the December holiday break when most students are off campus, resulting in minimal benefit to the student body.
President Akakpo asked Regent Childs to send a written summary of student concerns, noting that he would raise these issues directly with Follett leadership during upcoming meetings. The administration will explore:
Greater price flexibility for apparel and merchandise.
A more student-friendly sales calendar, including promotions during Homecoming and other high-traffic campus events.
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