REPORT DIGEST

ILLINOIS DEVELOPMENT FINANCE AUTHORITY

FINANCIAL AND COMPLIANCE AUDIT

(In accordance with the Single Audit Act and OMB Circular A-133)

For the Year Ended:
June 30, 2000

Summary of Findings:

Total this audit 0
Total last audit 2
Repeated from last audit 0

Release Date:
March 22, 2001

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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
Attn: Records Manager
Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703

(217)782-6046 or TDD (217) 524-4646

This Report Digest is also available on
the worldwide web at
http://www.state.il.us/auditor

  

 

 

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

There were no material findings of noncompliance disclosed during our audit tests. We commend the Authority for maintaining an effective system of internal controls.

 

AUDITORS’ OPINION

Our auditors state the financial statements of the Authority as of and for the year ended June 30, 2000 are fairly presented in all material respects.

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:JAF:pp

SPECIAL ASSISTANT AUDITORS

KPMG LLP were our special assistant auditors on this audit.

 

 

 

 

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

ILLINOIS DEVELOPMENT FINANCE AUTHORITY
FINANCIAL AND COMPLIANCE AUDIT
For The Year Ended June 30, 2000
REVENUES AND EXPENSES (ENTERPRISE FUNDS)

FY 2000

FY 1999
Total Revenues

$4,638,049

$3,768,006
Administrative Service Fees
% of Revenues

$1,968,597
42.4%

$2,172,707
57.7%
Investment Income
% of Revenues

$2,010,949
43.4%

$874,764
23.2%
Interest on Loans
% of Revenues

$498,024
10.7%

$599,816
15.9%
Other Income
% of Revenues

$160,479
3.5%

$120,719
3.2%
Total Expenses

$3,141,784

$3,033,804
Salaries and Benefits.............................
% of Expenses................

$1,750,593
55.7%

$1,581,779
52.1%
Average No. of Employees

24

22
Contractual Services
% of Expenses

$1,018,711
32.4%

$1,025,881
33.8%
Other Items
% of Expenses

$372,480
11.9%

$426,144
14.1%
Net Income

$1,496,265

$734,202
Cost of Property and Equipment

$274,552

$488,918
SELECTED ACTIVITY MEASURES

FY 2000

FY 1999

Total Number of Bond Issues and Loans Outstanding at June 30,

554

506
Total Number of New Bond Issues and Loans

66

66

Total Bond and Loan Value Outstanding (in millions)

$6,805

$6,009
Jobs Created or Retained during Year

1,103

1,311
AGENCY DIRECTOR

During Audit Period: Mr. Bobby J. Wilkerson (7/1/98-11/30/99); Patrick E. Rea, (12/1/99-present)
Currently: Mr. Patrick E. Rea