REPORT DIGEST

DEPARTMENT OF CENTRAL MANAGEMENT SERVICES

ILLINOIS STATE EMPLOYEES’ DEFERRED COMPENSATION PLAN

FINANCIAL AUDIT

For the Year Ended:
December 31, 2001

Release Date:
August 29, 2002

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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, 2001 were fairly presented in all material respects.

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KAL:pp

 

SPECIAL ASSISTANT AUDITORS

Sikich Gardner & Co., 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 One Year Ended December 31, 2001

ADMINISTRATIVE COSTS

2001

2000
Salaries
Fringe Benefits
Telecommunication services
Statistical services
Travel
Contractual services
Printing
Depreciation
Office supplies
Total Administrative Costs

$ 639,110
244,518
11,596
90,462
10,410
132,009
7,755
16,149
7,272
$1,159,281

$ 614,411
233,557
10,997
167,354
9,860
153,070
8,518
14,100
4,510
$1,216,377

INVESTMENT PORTFOLIO – Fair Value

2001

2000
Stable Return Fund
Liberty Acorn Fund
Ariel Growth Fund
Fidelity Fund
Fidelity Puritan Fund
T. Rowe Price International Stock Fund
T. Rowe Price New Income Fund
Vanguard Total Bond Market Index Fund
Vanguard Institutional Index Fund
Vanguard Money Market Reserves Prime Fund
Wells Fargo Large Capital Growth Fund
PIC Small Capital Growth Fund
Annuities
Total Investments

$ 419,491,583
536,652,609
62,262,508
270,905,985
178,904,015
41,980,178
48,327,080
26,706,512
160,062,530
42,179,464
2,349,218
1,677,684
3,128,278
$1,794,627,644

$ 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
0
0
3,434,643
$1,718,945,535
SELECTED ACTIVITY MEASURES

2001

2000

Number of Participants

51,139

49,061

Average Account Value

$35,245

$35,037
ACTING DIVISION MANAGER
During Audit Period: Jason Musgrave
Currently: Jason Musgrave