REPORT DIGEST

JUDGES’ RETIREMENT SYSTEM OF ILLINOIS

COMPLIANCE AUDIT

For the Year Ended:

June 30, 2000

Summary of Findings:

Total this audit 0
Total prior audit 0
Repeated from last audit 0

Release Date:
February 14, 2001

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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

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 compliance audit of the System for the year ended June 30, 2000. A financial audit covering the year ending June 30, 2000 is being issued separately.

It should be noted that, pursuant to the Illinois Pension Code, investments of the System are managed by the Illinois State Board of Investment.

There were no material findings of noncompliance disclosed during our audit tests. We commend the System for maintaining effective fiscal controls.

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:RPU:pp

SPECIAL ASSISTANT AUDITORS

Thomas Havey LLP were our special assistant auditors for this audit.

 

 

 

{Financial Information and Activity Measures are summarized on the reverse page.}

 

JUDGES' RETIREMENT SYSTEM OF ILLINOIS
INFORMATION FROM FINANCIAL AND COMPLIANCE AUDITS
TWO YEARS ENDED JUNE 30, 2000

FINANCIAL OPERATIONS

FY 2000

FY 1999

REVENUES

Contributions:

Participants
State General Revenue Fund
State Pension Fund
Other

Net investment income
Net appreciation in fair value of investments
Interest earned on cash balances

Total Revenue

EXPENSES

Benefits:

Retirement annuities
Survivors' annuities

Refunds
Administration

Total Expenses

 

 

$12,005,415
19,228,000
2,160,000
23,577

9,543,171
34,879,225
426,053

$78,265,441

 

 

$34,078,117
10,140,631

498,183
376,713

$45,093,644

 

 

$ 11,270,131
16,473,100
2,215,716
0

9,979,034
34,244,046
390,244

$ 74,572,271

 

 

$ 31,553,425
9,298,173

296,143
355,543

$ 41,503,284

SELECTED ACCOUNT BALANCES

JUNE 30, 2000

JUNE 30, 1999

Cash
Receivables
Investments, at fair value
Property and equipment, net of accumulated depreciation
Liabilities
Net Assets Held in Trust for Benefits
Actuarial Accrued Liability
Unfunded Liability

$7,752,714
$476,829
$414,758,248
$6,739
$60,810
$422,933,720
$871,153,418
$448,219,698

$7,279,856
$291,173
$382,235,852
$8,784
$53,742
$389,761,923
$805,587,241
$415,825,318

SUPPLEMENTARY INFORMATION

FY 2000

FY 1999

Number of System employees (shared with
General Assembly Retirement System)
Number of retirees and beneficiaries currently receiving benefits
Inactive members not yet receiving benefits

Current Members:

Vested
Nonvested
Total Return on Investments


8

784
43

607
301
11.8%


8

772
56

 

615
280
12.9%

EXECUTIVE SECRETARY
During Audit Period: Michael L. Mory
Currently: Michael L. Mory