REPORT DIGEST



WESTERN ILLINOIS UNIVERSITY FOUNDATION



FINANCIAL AUDIT
For the One Year Ended:
June 30, 1997
and
COMPLIANCE AUDIT
For the Two Years Ended:
June 30, 1997



Summary of Findings:

Total this audit 0
Total last audit 0
Repeated from last audit 0




Release Date:
April 23, 1998




State of Illinois
Office of the Auditor General

WILLIAM G. HOLLAND
AUDITOR GENERAL

Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703
(217) 782-6046





INTRODUCTION

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

AUDITORS' OPINION

Our auditors state the Foundation's June 30, 1997 financial statements are fairly presented.

___________________________________
WILLIAM G. HOLLAND, Auditor General

WGH:JTD:pp

SPECIAL ASSISTANT AUDITORS

Geo. S. Olive & Co., LLC were our special assistant auditors for this audit.







{Financial Information is summarized on the reverse page.}


WESTERN ILLINOIS UNIVERSITY FOUNDATION
FINANCIAL AND COMPLIANCE AUDIT
For The Year Ended June 30, 1997

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1997

FY 1996

  • REVENUE

Contributions and Pledges
Investment Revenue
Support from WIU
Other Revenue Sources
Total Revenue

  • EXPENDITURES

Scholarships
Contractual Services
Cost of Services from WIU
Assets Purchased and Donated to WIU
Funds Transferred to WIU
Other Expenditures
Total Expenditures

  • NET INCREASE (DECREASE)



$2,109,805
384,973
478,309
228,534
$3,201,621



$685,732
374,630
478,309
112,506
327,679
523,515
$2,502,371

$699,250

 



$1,682,228
479,015
449,761
226,455
$2,837,459



$615,053
273,078
449,761
213,812
197,111
378,607
$2,127,422

$710,037




 

SELECTED ACCOUNT BALANCES (ALL FUNDS)

AT JUNE 30, 1997

AT JUNE 30, 1996

  • ASSETS
    Cash and Investments
    Other Assets
    Total
  • LIABILITIES AND FUND BALANCES
    Liabilities
    Fund Balances
    Unrestricted-Current Funds
    Restricted - Current Funds
    Endowment Funds
    Annuity Funds
    Plant Funds
    Total


$8,006,716
172,955
$8,179,671

$253,795

20,314
2,369,451
5,447,357
82,181
6,573
$8,179,671


$7,228,885
217,668
$7,446,553

$219,927

65,173
1,916,867
5,238,013
0
6,573
$7,446,553

FOUNDATION OFFICIALS
Executive Officer: Larry Mortier