REPORT DIGEST

SOUTHERN ILLINOIS UNIVERSITY FOUNDATION AT CARBONDALE

FINANCIAL AUDIT

For the Year Ended:
June 30, 2002

Release Date:
February 27, 2003

logo.jpg (8630 bytes)

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 Foundation for the year ended June 30, 2002. A compliance audit covering the two years ended June 30, 2003 will be issued at a later date.

 

AUDITORS’ OPINION

Our auditors stated the June 30, 2002 financial statements of the Foundation are fairly presented.

 

 

 

____________________________________

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 FOUNDATION AT CARBONDALE
FINANCIAL AUDIT
For The Year Ended June 30, 2002

FINANCIAL OPERATIONS (ALL FUNDS)

FY2002

FY2001*
REVENUE    
Contributions

$5,826,583

$9,854,650
Support From University

2,514,820

2,182,092
Grants from University Related Organizations

2,390,797

3,135,606
All Other Revenues

775,050

362,506
Total Revenue

$11,507,250

$14,809,842
EXPENSES
Scholarships and cash grants to SIU

$4,847,022

$3,663,295
Budget expended at SIU

2,514,820

2,182,092
Expenditures for the benefit of SIU

4,654,014

5,799,769
All Other Expenses

6,495,552

2,488,196
Total Expenses

$18,511,408

$14,133,352
OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30, 2002

AT JUNE 30, 2001
Cash and Investments

$65,104,292

$68,747,309
Annuities Payable

$2,999,501

$3,115,659
Net Assets – Restricted-Nonexpendable

$39,485,212

N/A
Net Assets – Restricted-Expendable

$20,395,442

N/A
Fund Balances – Undesignated

N/A

$71,183,517
* The FY2001 figures have not been restated to reflect the implementation of GASB statements #35, 37 and 38.
MANAGING DIRECTOR
During Audit Period: Mr. Bryan Vagner
Currently: Mr. Bryan Vagner