REPORT DIGEST

ILLINOIS STATE
BOARD OF
INVESTMENT
FINANCIAL AUDIT

For the Year Ended:
June 30, 2002

Release Date:
January 15, 2003

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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

This digest covers our financial audit of the Board for the year ended June 30, 2002. A compliance audit covering the year ending June 30, 2002 is being issued separately.

MARKET VALUE DECLINE

The Board had a decline in its investment portfolio subsequent to June 30, 2002. As of September 30, 2002 the Board had incurred an approximate $880 million (11.1%) decrease in its investment portfolio since June 30, 2002 due to declines in the domestic and international equity markets.

AUDITORS' OPINION

Our auditors state the June 30, 2002 financial statements of the Board are fairly presented.

 

 

 

 

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WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Our special assistant auditors for this audit were KPMG, LLP.