REPORT DIGEST

REPORT DIGEST

UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

FINANCIAL AUDIT

For the Year Ended:

June 30, 2003

Release Date:

January 28, 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

AUDITORS’ OPINION

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

____________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Our special assistant auditors were Clifton Gunderson LLP.

                                  UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

                                                          FINANCIAL AUDIT

                                                For The Year Ended June 30, 2003

FINANCIAL OPERATIONS (All Funds)	FY 2003	FY 2002
OPERATING REVENUES OPERATING EXPENSES Operating income NONOPERATING REVENUES (EXPENSES) Investment income Contributions Net increase (decrease) in fair value of investments Net nonoperating revenues (expenses) Increase (decrease) in net assets NET ASSETS, beginning of year NET ASSETS, end of year	$6,987,079 $6,787,451 $199,628 $310,769 $(227,983) $44,709 $127,495 $327,123 $12,606,366 $12,933,489	$7,238,623 $6,678,051 $560,572 $370,134 $(1,441,446) $(1,071,312) $(510,740) $13,117,106 $12,606,366
OTHER SIGNIFICANT ACCOUNT BALANCES	At June 30, 2003	At June 30, 2002
Cash and Investments Total Assets Deferred Revenues Total Liabilities Total Net Assets	$13,145,421 $14,462,698 $1,219,608 $1,529,209 $12,933,489	$11,991,148 $12,981,396 $40,089 $375,030 $12,606,366
ALUMNI ASSOCIATION PRESIDENT
During Audit Period: Mr. Loren R. Taylor Currently: Mr. Loren R. Taylor