KANKAKEE
RIVER VALLEY AREA AIRPORT AUTHORITY
FINANCIAL AND COMPLIANCE AUDIT
For the Year Ended:
June 30, 2002
Summary of Findings:
Total this audit 0
Total last audit 0
Repeated from last audit 0
Release Date:
February 20, 2003
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
INTRODUCTION
The Kankakee River Valley Area Airport Authority was created September 10, 1990 as a result of Public Act 86-1400, the Kankakee River Valley Area Airport Authority Act. Its mission is to facilitate safe and convenient air travel and transportation to and from the Kankakee River Valley by acquisition or construction and operation of one or more airports.
This digest covers the financial and compliance audit of the Authority for the year ended June 30, 2002. The Authority received no appropriations from the Illinois General Assembly, and funds were not held in the State Treasury. The Authority was financed solely through contributions from private sources and interest income received from locally held funds.
There were no material findings of noncompliance disclosed during our audit tests. We commend the Authority for maintaining an effective system of internal control.
AUDITORS’ OPINION
Our auditors stated the financial statements of the Authority as of June 30, 2002, and for the year ended, are fairly presented in all material respects.
____________________________________
WILLIAM G. HOLLAND, Auditor General
WGH:TLD
AUDITORS ASSIGNED
This audit was performed by the staff of the Office of the Auditor General.
{Expenditures and Activity Measures are summarized on the reverse page.}