REPORT DIGEST

 

ILLINOIS LITERACY FOUNDATION

 

FINANCIAL AUDIT

AND COMPLIANCE EXAMINATION

For the Two Years Ended:

June 30, 2007

 

Summary of Findings:

 

Total this report                   0

Total last report                   0

Repeated from last report    0

 

Release Date:

February 20, 2008

 

 

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 Full Report are also available on

the worldwide web at

http://www.auditor.illinois.gov

 

 

 

 

 

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

 

      There were no material compliance findings disclosed during our tests. 

 

 

 

 

AUDITORS' OPINION

 

      Our auditors state the Foundation's financial statements as of June 30, 2007 are fairly presented in all material respects.

 

 

 

 

___________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KMA:pp

 

 

 

 

 

SPECIAL ASSISTANT AUDITORS

 

      Sleeper, Disbrow, Morrison, Tarro & Lively, LLC were our special assistant auditors.

 

 

 


ILLINOIS LITERACY FOUNDATION

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

For The Two Years Ended June 30, 2007

 

 

STATISTICS

FY 2007

FY 2006

FY 2005

REVENUES

      Direct public support.............................................

      Interest.................................................................

            Total revenues.................................................

 

EXPENSES

      Contractual...........................................................

      Travel...................................................................

      Commodities.........................................................

      Program grants......................................................

            Total expenses................................................

 

CHANGE IN NET ASSETS......................................

 

Net Assets, beginning..................................................

 

Net Assets, ending......................................................

 

$94,696

346

$95,042

 

 

$3,782

342

-

78,797

$82,921

 

12,121

 

27,142

 

$39,263

 

 

$192,925

201

$193,126

 

 

$6,795

208

143

192,631

$199,777

 

(6,651)

 

33,793

 

$27,142

 

 

$165,437

164

$165,601

 

 

$5,012

139

103

162,591

$167,845

 

(2,244)

 

36,037

 

$33,793

 

 

EX OFFICIO FOUNDATION DIRECTOR

During Audit Period:  Honorable Jesse White

Currently:  Honorable Jesse White