REPORT DIGEST ILLINOIS STUDENT ASSISTANCE COMMISSION COMPLIANCE EXAMINATION FOR THE TWO YEARS ENDED JUNE 30, 2018 Release Date: May 23, 2019 FINDINGS THIS AUDIT: 1 CATEGORY: NEW -- REPEAT -- TOTAL Category 1: 0 -- 0 -- 0 Category 2: 0 -- 0 -- 0 Category 3: 0 -- 1 -- 1 TOTAL: 0 -- 1 -- 1 FINDINGS LAST AUDIT: 2 Category 1: Findings that are material weaknesses in internal control and/or a qualification on compliance with State laws and regulations (material noncompliance). Category 2: Findings that are significant deficiencies in internal control and noncompliance with State laws and regulations. Category 3: Findings that have no internal control issues but are in noncompliance with State laws and regulations. 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 This digest covers our Compliance Examination of the Illinois Student Assistance Commission (Commission) for the two years ended June 30, 2018. A separate Financial Audit as of and for the year ending June 30, 2018, will be released under separate cover. In total, this report contains one finding which was reported in the Financial Audit. GOLDEN APPLE SCHOLARS OF ILLINOIS PROGRAM Pursuant to the Higher Education Student Assistance Act, the Commission administers the Golden Apple Scholars of Illinois Program which is managed by the Golden Apple Foundation for Excellence in Teaching. During procedures performed, the auditors identified instances of noncompliance related to the Golden Apple Scholars of Illinois Program which is described in the separate agreed-upon procedures report. AUDITOR’S OPINION The Financial Audit report was previously released. The auditors stated the financial statements of the Commission as of and for the year ended June 30, 2018 are fairly stated in all material respects. Auditors included a paragraph emphasizing that the Illinois Prepaid Tuition Program has a deficit of $280 million as of June 30, 2018. ACCOUNTANT’S OPINION The accountants conducted a compliance examination of the Commission for the two years ended June 30, 2018 as required by the Illinois State Auditing Act. The accountants stated the Commission complied, in all material respects, with the requirements described in the report. This engagement was conducted by Crowe LLP. 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