Introduction

This 2005 Annual Report had gone to press before the completion and release by the Colorado State Auditor of its report on the performance audit conducted on the University of Colorado Foundation for years 2001-2005. That audit report, now public, has helped identify and prompt corrections and improvements needed by the Foundation in its operating policies and in its procedures and practices for adhering to these policies. Such improvements have already been designed and initiated, and implementation is well underway at the Foundation by its 130 loyal and dedicated staff and its 60 volunteer board members. These improvements are enabling the Foundation and the University of Colorado, the Foundation’s sole beneficiary, to collaborate better as partners for donor development and stewardship, alumni relations and asset management, all for the maximum benefit and financial support of the University and the 50,000 students it serves.

George A. Sissel
Chair, Board of Trustees
University of Colorado Foundation

Michael M. Byram
President and CEO
University of Colorado Foundation

November 8, 2005

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