REPORT DIGEST

EASTERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

Release Date:

January 24, 2007

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

INTRODUCTION

Our report covers the financial audit for the year ended
June 30, 2006.

AUDITORS’ OPINION

Our auditors state the June 30, 2006 financial statements of Eastern Illinois University are fairly presented in all material respects.

___________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Our special assistant auditors for this audit were E.C. Ortiz & Co., LLP.

(Expenditures and Activity Measures are summarized on the reverse page.)

EASTERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT

For The Year Ended June 30, 2006

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS	FY 2006	FY 2005
OPERATING REVENUES Student tuition and fees, net.................................................................................................. Auxiliary enterprises, net........................................................................................................ Grants and contracts............................................................................................................... Sales and services of educational departments.................................................................. Other.......................................................................................................................................... Total Operating Revenues.............................................................................................. OPERATING EXPENSES Instruction........................................................................................................................... Auxiliary enterprises.......................................................................................................... Institutional support............................................................................................................... Student services...................................................................................................................... Academic support.............................................................................................................. Operations and maintenance of plant............................................................................. Depreciation expense........................................................................................................ Public service...................................................................................................................... Student aid.......................................................................................................................... Research.............................................................................................................................. ........... Total Operating Expenses................................................................................................ Operating Loss............................................................................................................................. NONOPERATING REVENUES (EXPENSES) State appropriations................................................................................................................ Payments on behalf of the University.................................................................................. Other nonoperating revenues (expenses), net.................................................................... Total Nonoperating Revenues (Expenses)................................................................... Income Before Capital Contributions....................................................................................... Capital appropriations, capital gifts and donated assets.......................................................... INCREASE IN NET ASSETS....................................................................................................... Net assets, beginning of the year............................................................................................... Net assets, end of the year..........................................................................................................	$56,480,594 36,096,832 14,137,808 3,972,693 2,493,714 $113,181,641 $70,108,070 27,178,279 16,319,773 17,606,275 12,254,338 10,895,526 11,663,569 7,758,929 5,128,002 1,171,032 $180,083,793 $(66,902,152) $47,609,499 24,902,749 4,041,387 $76,553,635 $9,651,483 21,675,762 $31,327,245 98,680,711 $130,007,956	$49,726,069 33,777,288 14,179,194 3,691,383 2,361,455 $103,735,389 $67,892,563 26,356,774 16,648,005 16,287,373 11,993,150 10,845,988 10,550,627 7,724,273 4,384,504 1,152,343 $173,835,600 $(70,100,211) $47,609,309 25,551,432 1,927,184 $75,087,925 $4,987,714 5,032,061 $10,019,775 88,660,936 $98,680,711
SELECTED ACCOUNT BALANCES	JUNE 30, 2006	JUNE 30, 2005
Cash and investments.................................................................................................................. Capital assets, net of accumulated depreciation...................................................................... Revenue bonds, notes payable, certificates of participation, and capital lease obligations.... Accrued compensated absences................................................................................................ Net assets.......................................................................................................................................	$34,954,253 $178,184,836 $66,800,645 $14,537,972 $130,007,956	$36,716,542 $153,154,084 $71,922,421 $14,716,776 $98,680,711
UNIVERSITY PRESIDENT
During Audit Period and Currently: Mr. Louis V. Hencken

AUDITORS’ OPINION

SPECIAL ASSISTANT AUDITORS

FY 2006

FY 2005

........... Total Operating Expenses................................................................................................

Capital appropriations, capital gifts and donated assets..........................................................

INCREASE IN NET ASSETS.......................................................................................................

UNIVERSITY PRESIDENT