REPORT DIGEST

EASTERN ILLINOIS UNIVERSITY

ALUMNI ASSOCIATION, INC.

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

Release Date:

November 29, 2006 

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 also available on

The worldwide web at

http://www.state.il.us/auditor

AUDITORS' OPINION

      Our auditors state the Eastern Illinois University Alumni Association financial statements as of June 30, 2006 and for the year then ended are fairly presented in all material respects.

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KMA:pp

SPECIAL ASSISTANT AUDITORS

      E.C. Ortiz & Co., LLP were our special assistant auditors for this engagement.

{Expenditures and Activity Measures are summarized on the reverse page.}

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS

FY 2006

FY 2005

Operating Revenues

     Membership dues..........................................................

     Royalties.......................................................................

     Service contract with University.....................................

     Budget allocation from University...................................

     Alumni promotions.........................................................

     Other operating revenue.................................................

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

Operating Expenses

     Promotional activities.....................................................

     In-kind expenses under contract with the University.........

     Postage, telephone and supplies......................................

     Printing.........................................................................

     Meetings and receptions.................................................

     Budget expended at the University..................................

     Professional fees...........................................................

     Depreciation..................................................................

     Insurance......................................................................

     Personal services...........................................................

     Dues and subscriptions...................................................

     Building expenditures.....................................................

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

Nonoperating Revenue (Expenses)

     Investment income.........................................................

     Scholarships..................................................................

     Gifts/grants to the University..........................................

         Total nonoperating revenue (expense)..........................

INCREASE (DECREASE) IN NET ASSETS.....................

Net assets, beginning of year ..............................................

Net assets, end of year........................................................

       $41,715

         13,623

         27,225

         10,106

             380

           2,801

       $95,850

       $35,210

         27,225

         12,629

         10,471

         14,045

         10,106

           9,096

           5,999

           3,407

           4,380

             802

           2,275

      $135,645

       $22,428

          (5,000)

        (56,941)

        (39,513)

      $(79,308)

     2,085,241

   $2,005,933

       $46,015

       650,440

         25,625

         10,171

           1,020

           1,408

      $734,679

       $38,738

         25,625

         21,005

         23,490

           9,905

         10,171

           8,172

           5,999

           3,263

           4,050

           1,562

             512

      $152,492

       $30,802

          (5,000)

        (90,557)

        (64,755)

      $517,432

     1,567,809

   $2,085,241

SELECTED ACCOUNT BALANCES AT JUNE 30

2006

2005

Assets

   Cash and investments......................................................

   Capital assets, net of accumulated depreciation..................

   Receivables and prepaid expenses....................................

       Total Assets.................................................................

$1,323,414

223,684

458,902

$2,006,000

$1,272,300

229,683

583,263

$2,085,246

Liabilities and Net Assets

   Accounts payable and accrued liabilities............................

   Invested in capital assets, net of related debt.....................

   Unrestricted net assets.....................................................

       Total Liabilities and Net Assets.....................................

$67

223,684

1,782,249

$2,006,000

$5

          229,683

1,855,558

$2,085,246

ALUMNI ASSOCIATION EXECUTIVE DIRECTOR

   During Audit Period and Currently:  Mr. Steve Rich