REPORT DIGEST

 

THE ASSOCIATION OF ALUMNI, FORMER STUDENTS AND FRIENDS OF SOUTHERN ILLINOIS UNIVERSITY, INCORPORATED AT CARBONDALE

 

COMPLIANCE AUDIT

For the Two Years Ended:

June 30, 2003

AND

FINANCIAL AUDIT

For the Year Ended:

June 30, 2002

 

Summary of Findings:

 

Total this audit                        0

Total last audit                        0

Repeated from last audit         0

 

Release Date:

March 24, 2004

 

 

 

 

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

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

 

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

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

 

AUDITORS' OPINION

Our auditors stated the June 30, 2003 financial statements of the Association are fairly presented in all material respects.

 

___________________________________

WILLIAM G.HOLLAND, Auditor General

WGH:KAL:pp

 

SPECIAL ASSISTANT AUDITORS

Kerber, Eck & Braeckel LLP were our special assistant auditors for this audit.

 

SOUTHERN ILLINOIS UNIVERSITY ALUMNI ASSOCIATION AT CARBONDALE

 

                                FINANCIAL AND COMPLIANCE AUDIT

                                  For The Two Years Ended June 30, 2003

 

FINANCIAL OPERATIONS (All Funds)

FY 2003

FY 2002

REVENUES

      Operating Revenues

 

EXPENSES

      Operating Expenses

      Operating Income

 

NONOPERATING REVENUES (EXPENSES)

      Investment gain/(loss)

      Contributions

            Net Nonoperating Revenues/(Expenses)

            Increase in Net Assets

 

NET ASSETS

      Net Assets-beginning of year, as originally reported

      Prior period adjustment

      Adjustment for GASB Statement No. 35

      Cumulative effect of change in accounting method

      Net Assets-beginning of year, as restated

 

      Net Assets-end of year

 

$1,313,167

 

 

$1,115,079

$198,088

 

 

$111,288

$2,694

$113,982

$312,070

 

 

$2,463,399

--

--

$(929,179)

$1,534,220

 

$1,846,290

 

$1,425,179

 

 

$1,166,156

$259,023

 

 

$(105,097)

$3,314

$(101,783)

$157,240

 

 

$2,488,821

$(71,001)

$(111,661)

--

$2,306,159

 

$2,463,399

OTHER SIGNIFICANT ACCOUNT BALANCES

At June 30, 2003

At June 30, 2002

Cash and investments

Total assets

Deferred Revenue

Total Liabilities

Net Assets-Invested in capital assets

Net Assets-Unrestricted

Total Net Assets

$3,385,590

$3,439,359

$1,516,992

$1,593,069

$5,657

$1,840,633

$1,846,290

$3,115,038

$3,161,206

$610,252

$697,807

$8,098

$2,455,301

$2,463,399

EXECUTIVE DIRECTOR

During the audit: Mr. Edward Buerger

Currently: Mr. Edward Buerger