REPORT DIGEST

 

DEPARTMENT OF CENTRAL MANAGEMENT SERVICES

ILLINOIS STATE EMPLOYEES’ DEFERRED COMPENSATION PLAN

 

 

FINANCIAL AUDIT

For the Years Ended

December 31, 2007 and 2006

 

 

Release Date:

July 8, 2008

 

 

 

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 TTY (217) 524-4646

 

 

This Report Digest and Full Report are also available on

the worldwide web at

http://www.auditor.illinois.gov

 

 

 

 

 

 

INTRODUCTION

 

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

 

AUDITORS' OPINION

 

      Our auditors stated the Illinois State Employees' Deferred Compensation Plan’s financial statements as of and for the years ended December 31, 2007 and 2006 were fairly presented in all material respects.

 

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KAL:pp

 

 

SPECIAL ASSISTANT AUDITORS

 

      Sikich, 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 Years Ended December 31, 2007 and 2006

 

ADMINISTRATIVE COSTS

2007

2006

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

Fringe Benefits..........................................................

Telecommunication services.......................................

Statistical services.....................................................

Travel.......................................................................

Contractual services..................................................

Printing

Commodities.............................................................

Depreciation.............................................................

Equipment.................................................................

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

Office supplies..........................................................

     Total Administrative Costs....................................

 

$669,396

323,824

6,606

78,710

903

129,140

4,422

0

22,742

3,125

1,750

         2,485

$1,243,103

 

$633,291

293,308

10,073

64,786

2,910

245,405

5,867

182

22,211

0

1,141

         2,814

$1,281,988

 

INVESTMENT PORTFOLIO – Fair Value

2007

2006

Stable Return Fund...................................................

Mutual Funds............................................................

Annuities...................................................................

    Total Investments..................................................

$586,464,798

2,415,221,940

       $1,641,305

$3,003,328,043

$572,808,887

2,272,762,571

         1,844,076

$2,847,415,534

 

SELECTED ACTIVITY MEASURES

2007

2006

Number of Participants..............................................

Average Account Value............................................

53,327

$56,319

52,553

$54,182

ACTING DIVISION MANAGER

 

 

During Audit Period:  Mr. Jason Musgrave

Currently:  Mr. Jason Musgrave