Statement from the University at Buffalo regarding SUNY audit of the UB Foundation

The university has reviewed the SUNY audit report which we believe provides a favorable overall assessment of the UB Foundation’s practices and governance. We are pleased the audit concluded that the UB Foundation is substantially compliant with SUNY guidelines and bylaws.

We are also pleased the audit found that the UB Foundation operates with a high degree of transparency, providing the public with information that is above and beyond what other campus-related foundations publicly disclose.

In areas identified for improvement by the audit, the university is assisting the foundation, where appropriate, in taking steps to strengthen foundation practices and operations. The university and foundation have already made significant strides in making these improvements.

The university continues to have complete confidence in the UB Foundation and its commitment to supporting UB’s mission for the benefit of our students, faculty, staff and alumni.