REPORT DIGEST

 

DEPARTMENT OF HEALTHCARE AND FAMILY SERVICES - LOCAL GOVERNMENT HEALTH INSURANCE RESERVE FUND

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2007

 

Summary of Findings:

Total this audit              0

Total prior audit        N/A

 

 

Release Date:

June 18, 2008

 

 

 

State of Illinois

Office of the Auditor General 

WILLIAM G. HOLLAND

AUDITOR GENERAL

 

 

 

 

To obtain a copy of the Report contact:

Office of the Auditor General

Iles Park Plaza

740 E. Ash Street

Springfield, IL 62703

(217) 782-6046 or TTY (888) 261-2887

 

This Report Digest and Full Report are available on

the worldwide web at

www.auditor.illinois.gov

 

 

 

INTRODUCTION

 

      This digest covers the financial audit of the Department of Healthcare and Family Services’ Local Government Health Insurance Reserve Fund for the year ended June 30, 2007.  There were no material findings of noncompliance or internal control disclosed during our testing.

 

 

AUDITORS’ OPINION

     

      Our auditors state the financial statements of the Local Government Health Insurance Reserve Fund as of June 30, 2007, are fairly presented in all material respects.

 

 

 

___________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:TLD:pp

 

 

 

AUDITORS ASSIGNED

 

      This audit was performed by the staff of the Office of the Auditor General.

 

 

 

 

 

 

 

 

 

 

 

  

 

{Financial Information and Activity Measures summarized on the reverse page.}


DEPARTMENT OF HEALTHCARE AND FAMILY SERVICES

LOCAL GOVERNMENT HEALTH INSURANCE RESERVE FUND

FINANCIAL AUDIT

For the Year Ended June 30, 2007

 

FINANCIAL OPERATIONS (in thousands)

FY 2007

OPERATING REVENUES

Charges for sales and services.................................

Other…….............................................................

Total operating revenues..............................

     

OPERATING EXPENSES

Benefit payments and refunds..................................

General and administrative......................................

Total operating expenses..............................

 

Operating income (loss)...........................................

 

NONOPERATING REVENUES (EXPENSES)

Interest and investment income................................

Other revenues.......................................................

 

Income (loss) before contributions and transfers.....................................................

 

Transfers-out........................................................

 

Change in net assets......................................

 

Net assets, July 1, 2006..........................................

                       

NET ASSETS, JUNE 30, 2007................................      

 

          $     63,792

                        89

                 63,881

 

                           

                 59,647

                      869

                 60,516

 

                   3,365

 

 

                      469

                      185

 

 

                   4,019

 

                 (1,000)

 

                   3,019

 

                   4,355

 

           $      7,374

 

 

SUPPLEMENTARY INFORMATION

FY 2007

Number of local governmental entities participating……..................................................

Approximate number of employees covered...……....

Approximate number of dependents covered……......

Approximate number of retirees covered......................

 

501

                     6,399

4,156

352

 

AGENCY DIRECTOR

 

During Audit Period:  Mr. Barry S. Maram

Currently:  Mr. Barry S. Maram