University of Connecticut
PAE-T2-9: Investment Disclosure

Specific holdings are not available to the public, but the portfolio allocation by asset class is made available to the public. The Foundation is also required to fild with the State an annual Form CT990. The UConn Foundation’s financial dealings are subject to public disclosure in the following ways: The Memorandum of Understanding between the University and the Foundation is signed by the President of the University, the Chief Financial Officer, the Chair of the Foundation Board of Directors, the Foundation President and the Executive Vice president of the Health Center. It is then sent for approval by the Attorney General’s Office in Hartford. Existing state law requires foundations supporting state agencies with receipts and earnings from investments totaling in excess of $100,000 per year or more to retain an independent certified public accountant to perform a full audit of the foundation’s books and accounts. The Foundation retains PricewaterhouseCoopers to conduct this audit (link: audited financial statements). The audit results are reviewed by the President of the University and its Chief Financial Officer. The University is then required by statute to file a copy of the audit results with state auditors (see Conn. Gen. Stat. Sec. 4-37f(8)). The Foundation publishes an annual report that includes its audited financial statements and significant fundraising activities. The annual report is available on the Foundation’s Web site (link: annual report). The UConn Foundation is required by federal law to file a newly expanded annual Form 990, in the same manner as numerous other public charities across the country. In addition, the UConn Foundation is subject to outside scrutiny by debt rating agencies such as Moody’s and Standard & Poor’s. Also the Foundation submits financial information to the National Bond Depositories, which is available for public inspection. Finally, the UConn Foundation, in accordance with its Board-approved information disclosure policies, voluntarily discloses a number of documents and other information related to its activities, including a conflict of interest policy for our Board of Directors and a whistle blower policy to encourage staff reporting of any corruption, unethical practices, violation of state laws or regulations, mismanagement, waste of funds, abuse of authority or danger to public safety.