REPORT DIGEST

ILLINOIS HOUSING

DEVELOPMENT

AUTHORITY

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

Release Date:

November 16, 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 the Full Report are available on

the worldwide web at

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

INTRODUCTION

This report covers our financial audit of the Illinois Housing Development Authority, a component unit of the State of Illinois, for the year ended June 30, 2006. Information on the results of testing performed in conjunction with our compliance attestation examination and Single Audit for the year ended June 30, 2006 will be released in a separate report.

AUDITORS’ OPINION

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

____________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

KPMG LLP were our special assistant auditors for this audit.

ILLINOIS HOUSING DEVELOPMENT AUTHORITY

FINANCIAL AUDIT

For The Year Ended June 30, 2006

FINANCIAL POSITION – ALL FUNDS	June 30, 2006	June 30, 2005
Assets Cash and investments – unrestricted....................... Investments – restricted........................................ Net program loans receivable................................. Other.................................................................. Total............................................................. Liabilities Bonds and notes payable....................................... Due to State of Illinois.......................................... Deposits held in escrow........................................ Other.................................................................. Total............................................................. Net Assets Invested in capital assets, net................................. Restricted............................................................ Unrestricted......................................................... Total.............................................................	$ 174,917,442 545,753,663 1,603,739,186 68,978,840 $ 2,393,389,131 $ 1,422,672,934 276,480,567 142,196,331 94,058,580 $ 1,935,408,412 $ 361,800 376,420,706 81,198,213 $ 457,980,719	$ 173,775,725 685,042,491 1,490,359,980 41,244,526 $2,390,422,722 $1,493,002,435 --- 142,848,284 52,371,977 $1,688,222,696 $ 498,089 345,368,012 356,333,925 $ 702,200,026
ADMINISTRATIVE FUND OPERATIONS	FY 2006	FY 2005
Revenues Service fees......................................................... Interest and investment income.............................. Federal assistance programs.................................. Transfers, net...................................................... Other.................................................................. Total............................................................. Expenses Salaries and benefits............................................. Professional fees.................................................. Other general and administrative............................. Transfers, net...................................................... Financing Costs................................................... Federal assistance programs.................................. Provision for est. loss on loans receivable............... Total............................................................. Change in net assets...................................................	$ 9,779,430 4,240,372 148,171,776 3,810,549 8,321,621 $ 174,323,748 $ 11,125,975 1,163,780 3,442,719 --- 471,587 148,171,776 3,545,000 $ 167,920,837 $ 6,402,911	$ 9,371,623 5,501,498 151,548,544 --- 4,482,535 $ 170,904,200 $ 11,228,953 1,325,244 3,282,486 13,533,288 337,984 151,548,544 --- $ 181,256,499 $ (10,352,299)
EXECUTIVE DIRECTOR
During Audit Period: Kelly King Dibble Currently: Kelly King Dibble

ILLINOIS HOUSING DEVELOPMENT AUTHORITY

ADMINISTRATIVE FUND OPERATIONS

FY 2006

FY 2005

EXECUTIVE DIRECTOR

During Audit Period: Kelly King Dibble