Report: SC State diverted $2.3M in rebates to private foundation - wistv.com - Columbia, South Carolina

Report: SC State diverted $2.3M in rebates to private foundations

ORANGEBURG, SC (AP/WIS) -

A new report says cash-strapped South Carolina State University should immediately stop putting rebates from vendors into private foundations.

The report, released Tuesday by the state's Inspector General, says the practice is inappropriate because it bypasses normal budget processes.

The findings show over the past few years, university executives diverted about $2.3 million in vendor contract rebates, which ended up costing students nearly $350 extra per year on their meal plans.

"Without question, vendor rebates from SCSU contracts diverted to foundations were inappropriate," said the report. "This practice must cease."

The Inspector General also makes recommendations on how the university, which is currently facing a $13 million budget deficit, should move forward.

"The simple analysis is to get rid of the clutter and confusion from those unnecessary rebates to focus on the contracts measurable performance, facilitate agency contract monitoring to ensure value received, and reduce distractions impacting either," said the report. "In short, get back to old fashion management of driving a hard bargain and then making sure you get what you paid for."

Copyright 2014 WIS. All rights reserved.

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