REPORT DIGEST ILLINOIS MATHEMATICS AND SCIENCE ACADEMY FINANCIAL AUDIT AND COMPLIANCE EXAMINATION FOR THE YEAR ENDED JUNE 30, 2017 Release Date: January 31, 2018 FINDINGS THIS AUDIT: 0 FINDINGS LAST AUDIT: 3 State of Illinois, Office of the Auditor General FRANK J. MAUTINO, 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 www.auditor.illinois.gov INTRODUCTION The Illinois Mathematics and Science Academy (Academy) develops creative, ethical leaders in science, technology, engineering and mathematics. As a teaching and learning laboratory created by the State of Illinois, the Academy enrolls academically talented Illinois students (grades 10-12) in its advanced, residential college preparatory program, and it serves thousands of educators and students in Illinois and beyond through innovative instructional programs that foster imagination and inquiry. There were no material findings of noncompliance disclosed during our examination. AUDITOR’S OPINION The auditors stated the financial statements of the General Fund, the Special Purposes Trust Fund, the IMSA Income Fund, and the IMSA Operating Fund as of and for the year ended June 30, 2017 are fairly stated in all material respects. ACCOUNTANT’S OPINION The accountants conducted a compliance examination of the Academy for the year ended June 30, 2017 as required by the Illinois State Auditing Act. The accountants stated the Academy complied, in all material respects, with the requirements described in the report. This financial audit and compliance examination was conducted by Washington, Pittman & McKeever, LLC. JANE CLARK Division Director This report is transmitted in accordance with Section 3-14 of the Illinois State Auditing Act. FRANK J. MAUTINO Auditor General FJM:JGR