REPORT DIGEST

 

UNIVERSITY OF ILLINOIS

RESEARCH PARK, LLC

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2004

and

COMPLIANCE EXAMINATION

For the Two Years Ended:

June 30, 2004

 

Summary of Findings:

Total this audit                          0

Total last audit                          0

Repeated from last audit           0

 

Release Date:

March 24, 2005 

 

 

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 TTY (888) 261-2887

 

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 findings of noncompliance disclosed during our examination.  We commend the Company for maintaining an effective system of internal controls.

 

 

AUDITORS’ OPINION

 

      Our auditors stated the Company’s June 30, 2004 financial statements are fairly presented in all material respects.

 

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KMA:pp

 

SPECIAL ASSISTANT AUDITORS

 

      Our special assistant auditors were Clifton Gunderson LLP.

 

 

 

 

 

 

 

 

 

 

{Expenditures and Activity Measures are summarized on the reverse page.}

UNIVERSITY OF ILLINOIS RESEARCH PARK, LLC

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

For the Years Ended June 30, 2004

 

FINANCIAL OPERATIONS

FY 2004

FY 2003

OPERATING REVENUES

      Service Income.........................................................

      Rental Income..........................................................

            Total..................................................................

 

OPERATING EXPENSES

      Salaries....................................................................

      Support for Enterprise Works....................................

      Professional Fees.......................................................

      Rent..........................................................................

      Advertising................................................................

      Other........................................................................

            Total...................................................................

 

NONOPERATING REVENUES - INTEREST.........

INCREASE (DECREASE) IN NET ASSETS................

NET ASSETS - Beginning of Year..................................

NET ASSETS - End of Year...........................................

 

 

$306,217

67,104

$373,321

 

 

$240,898

78,798

1,350

0

13,749

76,037

$410,832

 

$934

$(36,577)

$384,989

$348,412

 

$678,072

62,755

$740,827

 

 

$270,500

0

236,895

30,614

20,692

127,980

$686,681

 

$11,908

$66,054

$318,935

$384,989

 

SELECTED ACCOUNT BALANCES

AT JUNE 30,

2004

AT JUNE 30,

2003

Cash..............................................................................

Accounts Receivable......................................................

Capital Assets................................................................

Lease Receivable............................................................

Accounts Payable...........................................................

$3,460

$0

$204,875

$156,115

$16,038

$24,696

$6,262

$215,630

$159,066

$20,665

 

DIRECTOR

During Audit Period:  Mr. John B. Parks (7-1-02 to 3-31-04), Scott Pickard, Interim (4-1-04 to 6-30-04)

Currently:  Scott Pickard, Interim