REPORT DIGEST

 

INTERMEDIATE

SERVICE CENTER #1

 

NORTH COOK

 

FINANCIAL AUDIT

(In Accordance with the
Single Audit Act and
OMB Circular A-133)

For the Year Ended:

June 30, 2005

 

Summary of Findings:

 

Total this audit                          0

Total last audit                          0

Repeated from last audit           0

 

Release Date:

June 22, 2006 

 

 

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.state.il.us/auditor

 

 

 

 

 

     INTRODUCTION

 

        Our report covers the financial audit, in accordance with the Single Audit Act and OMB Circular A-133, for the period ending June 30, 2005.

 

 

AUDITORS’ OPINION

 

      Our auditors state the Intermediate Service Center #1’s financial statements as of June 30, 2005 are fairly presented in all material respects.

 

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KJM:ro

 

SPECIAL ASSISTANT AUDITORS

 

      Our special assistant auditors were Lindgren, Callihan,
Van Osdol & Co., Ltd.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

        {Expenditures and Revenues are summarized on the reverse page.}

 

 

 

                                                                                   

INTERMEDIATE SERVICE CENTER #1

NORTH COOK

 

FINANCIAL AUDIT

(In Accordance with Single Audit Act and OMB Circular A-133)

For The Year Ended June 30, 2005

 

 

 

FY 2005

FY 2004

TOTAL REVENUES

$4,419,406

$3,627,422

Local Sources

$1,548,085

$1,264,011

% of Total Revenues

35.03%

34.85%

State Sources

$1,913,441

$255,529

% of Total Revenues

43.30%

7.04%

Federal Sources

$957,880

$2,107,882

% of Total Revenues

21.67%

58.11%

 

TOTAL EXPENDITURES

$4,114,042

$3,693,937

Salaries and Benefits

$2,114,371

$1,980,992

% of Total Expenditures

51.39%

53.63%

Purchased Services

$1,715,594

$1,491,369

% of Total Expenditures

41.70%

40.37%

All Other Expenditures

$284,077

$221,576

% of Total Expenditures

6.91%

6.00%

 

 

 

TOTAL NET ASSETS

$2,230,752

$1,848,095

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$200,028

 

$122,735

 

 

Percentages may not add due to rounding.

 

EXECUTIVE DIRECTOR

During Audit Period: Dr. Barbara Habschmidt

Currently: Dr. Barbara Habschmidt