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REPORT DIGEST SOUTHERN FINANCIAL
STATEMENT AUDIT For the Year Ended: June 30, 2008 Release Date: February 19, 2009
State of
Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
To obtain a copy of the
Report contact: Office of the Auditor
General
(217) 782-6046 or TTY (888)
261-2887
This Report Digest and the
Full Report are also available on the worldwide web at |
INTRODUCTION This report covers the Financial Audit of Southern Illinois University for the year ended June 30, 2008 including its Housing and Auxiliary Facilities System and Medical Facilities System. This report does not contain any findings. Findings related to the State Compliance Examination and the Single Audit will be issued at a later date. AUDITORS’ OPINION Our auditors stated the financial statements of the University as of June 30, 2008 and for the year then ended are fairly presented in all material respects. ____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:KMA:pp SPECIAL ASSISTANT AUDITORS Crowe Horwath LLP were our special assistant auditors for this audit. {Expenditures and Activity Measures are summarized on the reverse page.}
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SOUTHERN
FINANCIAL STATEMENT AUDIT
FOR THE YEAR ENDED JUNE 30, 2008
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STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS |
FY2008
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FY2007
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OPERATING REVENUES Student tuition and fees........................................... ... Auxiliary enterprises.......................................................................... Grants and contracts............................................... Sales and services of educational activities............... Other.....................................................................
Total Operating Revenues............................. OPERATING EXPENSES Instruction.............................................................. Research............................................................... Public services....................................................... Academic support................................................... Student services..................................................... Institutional support................................................. Operation and maintenance of plant......................... Scholarships and fellowships.................................... Auxiliary enterprises............................................... Depreciation........................................................... Other....................................................................
Total
Operating Expenses.................................
Operating
Loss........................................................ NON-OPERATING REVENUES (EXPENSES) State appropriations................................................ Payments on behalf of the University....................... Other non-operating revenues (expenses), net..........
Net Non-operating Revenues
.......................... Income (Loss) Before Capital Contributions.......... Capital
appropriations, additions to endowments and capital grants
and gifts........................................................................................
INCREASE IN
NET ASSETS.................................
Net assets, beginning of the
year.................................. Net
assets, end of the year..........................................................
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$207,141,669 95,190,509 93,855,788 60,638,746 42,290,179 $499,116,891 $273,275,474 58,343,488 60,083,154 125,357,888 61,419,481 58,097,621 75,374,645 24,241,476 87,621,293 36,393,289 570,824 $860,778,633 ($361,661,742) $227,184,099 122,396,302 37,421,596 $387,001,997 $25,340,255 $14,771,583 $40,111,838 $426,137,436 $466,249,274 |
$182,140,804 83,367,711 89,604,596 52,529,185 39,603,670 $447,245,966 $259,860,902 57,700,962 56,378,043 112,268,877 55,192,637 54,640,752 65,398,396 19,159,776 77,328,543 34,958,458 350,826 $793,238,172 ($345,992,206) $223,149,103 106,525,874 34,315,848 $363,990,825 $17,998,619 $32,650,797 $50,649,416 $375,488,020 $426,137,436 |
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SELECTED ACCOUNT BALANCES |
JUNE 30, 2008
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JUNE 30,
2007
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Cash
and investments.................................................. Capital
assets, net of accumulated depreciation............. Total Assets............................................................. Revenue bonds, certificates of participation and
capital lease obligations.................................................... Accrued compensated absences.................................. Total Liabilities........................................................ Net assets................................................................ |
$258,508,434 $605,188,397 $938,404,694 $290,316,366 $47,967,312 $472,155,420 $466,249,274 |
$221,463,550 $572,516,218 $868,278,645 $270,661,078 $46,820,844 $442,141,209 $426,137,436 |
UNIVERSITY
PRESIDENT
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During Audit Period: Dr. Glenn Poshard Currently: Dr. Glenn Poshard |
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