REPORT DIGEST

DEPARTMENT OF CENTRAL MANAGEMENT SERVICES

ILLINOIS STATE EMPLOYEES’ DEFERRED COMPENSATION PLAN

FINANCIAL AUDIT

For the Year Ended:

December 31, 2000

Release Date:
June 28, 2001

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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

Our audit was limited to examining and giving an opinion on the Deferred Compensation Plan's financial statements. A compliance audit of the Plan will be conducted as a part of our next compliance audit of the Department of Central Management Services, the Plan's administering agency.

AUDITORS' OPINION

Our auditors stated the Illinois State Employees' Deferred Compensation Plan financial statements as of and for the year ended December 31, 2000 were fairly presented in all material respects.

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:RPU:pp

SPECIAL ASSISTANT AUDITORS

Clifton Gunderson LLP were our special assistant auditors.

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

 

 

ILLINOIS STATE EMPLOYEES' DEFERRED COMPENSATION PLAN
FINANCIAL AUDIT
For The Two Years Ended December 31, 2000

BALANCE SHEET STATISTICS (ALL FUNDS)

2000

1999
Cash and Equivalents
Accounts Receivable
Investments
Property and Equipment

Total Assets

Accounts Payable
Accrued Compensated Absences
Fund Balance – Designated for Participant Benefits
Fund Balance - Undesignated

Total Liabilities and Fund Balance

$ 6,721,005
309,709
1,718,945,535
52,565

$1,726,028,814

$ 178,267
102,132
1,720,823,515
4,924,900

$1,726,028,814

5,868,602
231,340
1,613,648,004
46,931

$1,619,794,877

$ 173,281
86,540
1,615,602,176
3,932,880

$1,619,794,877
ADMINISTRATIVE COSTS

2000

1999
Salaries
Fringe Benefits
Telecommunication services

Statistical services

Travel
Contractual services
Printing
Depreciation
Office supplies

Total Administrative Costs

$ 614,411
233,557
10,997

167,354

9,860
153,070
8,518
14,100
4,510

$1,216,377

$ 546,620
168,261
11,169

194,360

6,441
101,990
7,370
15,654
5,958

$1,057,823
INVESTMENT PORTFOLIO - Fair Value

2000

1999
Stable Return Fund
Acorn Fund
Ariel Growth Fund
Fidelity Fund
Fidelity Puritan Fund
T. Rowe Price International Stock Fund
T. Rowe Price New Income Fund
Vanguard Bond Index Fund
Vanguard Institutional Index Fund
Vanguard Money Market Reserves Prime Fund
Annuities
Total Investments

$ 382,374,217
493,730,086
42,681,123
305,347,632
172,520,927
52,619,249
40,132,064
17,034,099
175,384,230
33,687,265
3,434,643
$1,718,945,535

$ 368,199,317
422,584,480
31,171,656
319,616,131
165,663,909
54,283,932
37,186,565
13,622,994
171,015,506
26,551,628
3,751,886
$1,613,648,004
SELECTED ACTIVITY MEASURES

2000

1999

Number of Participants

49,061

46,027

Average Account Value

$35,037

$35,059
DIVISION MANAGER

During Audit Period: Don Templeman through 1-16-99; Lynn Zehnder, acting manager 1-17-99/4-16-99; Lori Skinner, acting manager 4-17-99/7-31-00; Jason Musgrave, acting manager effective 8-01-00.
Currently: Jason Musgrave, acting manager