New CU treasurer

The University of Colorado has a new treasurer and chief investment officer. Usha Sharma was selected for the role by the CU Board of Regents and starts in late July. The position reports directly to the board.

Sharma has worked in finance for 30 years, including time as the treasurer for the Denver Board of Water Commissioners and senior manager in global treasury for Molson Coors Brewing Company, according to a news release. Sharma began her career with Coors Brewing Co. in 1993.

“It is wonderful to return to CU and serve my alma mater knowing how important its financial stability is to the Colorado economy,” Sharma said in a news release.

She is an alumna of CU-Denver and holds two master’s degrees from the university in business administration and finance. She received her bachelor’s degree from Tribhuvan University in Nepal.

The CU system comprises four campuses in Boulder, Colorado Springs, Denver and a medical campus. It serves more than 66,000 students and employs 6,200 full-time instructional faculty. The university has an annual budget of $5.5 billion.

In her role as treasurer, Sharma will be responsible for treasury functions including investing university funds, cash and investment management, debt management, accounting and the university’s bank relationships.

“This is a critical position for the university system, and Usha’s experience in both the private and public sector treasurer roles will continue to keep CU’s investments on solid ground,” Vice Chair of the board and co-chair of the search committee Ken Montera said in a news release. “We are thrilled that she has accepted the opportunity to join our CU team.”

New River Commissioner

The Colorado Department of Natural Resources has tapped its first-ever full-time commissioner for the Upper Colorado River Commission, who will be tasked with helping the state respond to the Colorado River crisis.

The UCRC is an interstate water administrative agency, through which the four upper division states plan use of the Colorado River. The Colorado River provides water to more than 40 million people and 30 Tribes in seven states.

As Colorado’s river commissioner, Rebecca Mitchell will now oversee a team responsible for managing the state’s “position in Colorado River interstate issues and upcoming negotiations on the operations of Lake Mead and Lake Powell,” according to a news release.

“The next few years are going to be incredibly intense as we shift the way that the seven basin states cooperate and operate Lakes Powell and Mead,” Mitchell said in the release. “This expanded role will allow me to fully focus on Colorado’s needs at such a critical time and actually work towards long term sustainable solutions to managing the Colorado River.”

Mitchell cited climate change and lower basin overuse as forces taxing the Colorado River, adding “we have no choice but to do things differently than we have before.” The new role will afford Mitchell the time to meet with people from across the state, including Tribal leaders, she said.

Before taking on the full-time role of commissioner, Mitchell served as director of the CWCB for six years and held a dual role in the last four years after accepting a governor-appointed position as Colorado River Commissioner.

“Water is essential to our economy, impacts housing, and plays a pivotal role in our thriving outdoor recreation and agriculture industries. Rebecca’s leadership and experience have already improved management and negotiations on the Colorado River and we look forward to her continued efforts to protect our waterways and defend our water rights,” Gov. Jared Polis said in a news release.