REPORT DIGEST




ILLINOIS STATE UNIVERSITY FOUNDATION







FINANCIAL AUDIT
For the Year Ended:
June 30, 1997









Release Date:
April 23, 1998





State of Illinois
Office of the Auditor General

WILLIAM G. HOLLAND
AUDITOR GENERAL

Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703
(217) 782-6046











INTRODUCTION

Our report covers the financial audit of the Illinois State University Foundation for the fiscal year ended June 30, 1997. A compliance audit for the two years ended June 30, 1998 will be performed at a later date.

AUDITORS' OPINION

Our auditors stated the June 30, 1997 financial statements of the Illinois State University Foundation are fairly presented.

____________________________________
WILLIAM G. HOLLAND, Auditor General

WGH:RPU:pp

SPECIAL ASSISTANT AUDITORS

Geo. S. Olive & Co. LLC were our special assistant auditors for this audit.









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


ILLINOIS STATE UNIVERSITY FOUNDATION
FINANCIAL AND COMPLIANCE AUDIT
For The Two Years Ended June 30, 1997

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1997

FY 1996

  • ADDITIONS

Gifts, grants, and awards
Investment income
Gain (loss) on investments
Nongift income
Administrative fee income
Property and equipment additions
Total additions

  • DEDUCTIONS

Operations
Awards, scholarships, and grants
Property and equipment deductions
Total deductions



$5,249,205
798,899
(36,524)
738,488
145,679
4,679
$6,900,426



$3,515,782
493,497
21,068
$4,030,347




$3,414,982
778,236
1,984,515
813,991
0
0
$6,991,724



$3,054,182
1,144,130
20,195
$4,218,507


SELECTED ASSET BALANCES (ALL FUNDS)

AT JUNE 30, 1997

AT JUNE 30, 1996

Cash and Investments
Fund Balances:
Unrestricted
Restricted
Endowment
Investment in Plant

$20,387,576

$1,083,205
5,360,389
13,690,007
412,202

$17,372,292

$997,770
4,912,313
11,341,729
423,912

FOUNDATION EXECUTIVE DIRECTOR
During Audit Period: Dr. Judith K. Riggs
Currently: Dr. Judith K. Riggs