A new legislative audit of the University of Colorado's independent fundraising arm has found that the CU Foundation has largely cleaned up its act since two years ago, when it paid more than $700,000 in questionable expenses, made poor choices in accepting contributions and failed to adequately ensure that donations were spent the way donors wanted.

Foundation President Wayne Hutchens told lawmakers Monday the organization has implemented 17 of the auditors' 21 recommendations. He and the auditors agreed that the foundation is making progress toward the other recommendations.

He said donors are responding with their checkbooks. The foundation collected $105 million last year, up from $60 million the year before.

"We want to be a great business in support of a great university," Hutchens said.