REPORT DIGEST

SIU PHYSICIANS AND SURGEONS, INC.

SOUTHERN ILLINOIS UNIVERSITY AT SPRINGFIELD

COMPLIANCE AUDIT

For the Two Years Ended:
June 30, 1999

AND FINANCIAL AUDIT

For the Year Ended:
June 30, 1999

Summary of Findings:

Total this audit 0
(First Audit)

Release Date:
March 21, 2000

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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

Southern Illinois University Physicians and Surgeons, Inc. is a not-for-profit corporation which exists exclusively for charitable, educational, and scientific purposes and to benefit and support the teaching, research and service missions of Southern Illinois University School of Medicine. The Corporation began operations on November 1, 1997. This is the first compliance audit of the Corporation.

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

 

There were no material compliance findings disclosed during our audit tests. We commend the Corporation for maintaining effective fiscal controls.

 

AUDITORS' OPINION

Our auditors stated the June 30, 1999 financial statements of the Corporation are fairly presented.

 

 

___________________________________

WILLIAM G.HOLLAND, Auditor General

 

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SPECIAL ASSISTANT AUDITORS

PricewaterhouseCoopers L.L.P. were our special assistant auditors for this audit.

SIU PHYSICIANS AND SURGEONS, INC. SOUTHERN ILLINOIS
UNIVERSITY AT SPRINGFIELD

FINANCIAL AND COMPLIANCE AUDIT

For The Periods Ended June 30, 1999

FINANCIAL OPERATIONS (All Funds)

FY 1999

November 1, 1997 through June 30, 1998

Revenues:
Net professional fees
Other revenues
Total revenues

Expenditures:
General and operating
University overhead
Academic development
Other expenditures
Total expenditures


$39,212,967
445,676
$39,658,643


$15,160,986
19,779,459
3,654,928
1,018,081
$39,613,454


$23,895,041
78,694
$23,973,735


$6,465,572
8,279,617
1,501,335
64,014
$16,310,538

SELECTED ASSETS BALANCES (All Funds)

At June 30, 1999

At June 30, 1998

Cash
Accounts receivable
Other assets
Total assets

$156,391
10,135,923
51,753
$10,344,067

$10,990
9,630,993
41,650
$9,683,633

EXECUTIVE DIRECTOR
During the audit: Mrs. Elizabeth Collier
Currently: Mrs. Elizabeth Collier