REPORT DIGEST

PUBLIC SCHOOL TEACHERS’ PENSION AND RETIREMENT FUND OF CHICAGO

SPECIAL LIMITED COMPLIANCE AUDIT TESTING OF STATE APPROPRIATIONS

For the Two Years Ended:

June 30, 1999

Summary of Findings:

Total this audit 0

Total last audit 0

Repeated from last audit 0

Release Date:
April 12, 2000

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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

The Illinois General Assembly makes direct appropriations annually to the Public School Teachers’ Pension and Retirement Fund of Chicago (Fund) from the General Revenue Fund for supplemental payments to retired teachers under provisions set forth in Article 17 of the State Pension Code. For Fiscal Year 1998 the appropriation was $50,000, and for Fiscal Year 1999 the appropriation was $50,000.

During Fiscal Year 1998, the Fund also received State funding through the Illinois State Board of Education (Board). Pursuant to Public Act 90-548, these expenditures were audited during our regular audits of the Board. However, during Fiscal Year 1999, this State funding was directly received by the Fund and was included within the scope of this audit. For Fiscal Year 1999, the appropriation was $65,044,700.

Our special compliance testing was limited to these State appropriations made directly to the Fund.

FINDINGS, CONCLUSIONS, AND

RECOMMENDATIONS

There were no material findings of noncompliance for this audit or the prior audit.

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:GSS

AUDITORS ASSIGNED

This audit testing was performed by staff of the Office of the Auditor General.