REPORT DIGEST
CAPITAL DEVELOPMENT BOARD
FINANCIAL AUDIT For the Year Ended: June 30, 2003
Release Date: February 18, 2004
State of Illinois Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
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INTRODUCTION
We performed a financial audit of the Capital Development Board for the year ended June 30, 2003. A two-year compliance audit and a one-year financial will be performed for the period ended June 30, 2004.
AUDITORS' OPINION Our auditors stated the financial statements of the Capital Development Board for the year ended June 30, 2003 were fairly presented in all material respects.
_____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:LKW:pp
SPECIAL ASSISTANT AUDITORS Clifton Gunderson LLP were our special assistant auditors for this engagement.
(Selected financial information is summarized on the reverse page.} |
CAPITAL DEVELOPMENT BOARD
FINANCIAL AUDIT
For the Period Ended June 30, 2003
FINANCIAL INFORMATION – (In thousands) |
FY 2003 |
FY 2002 |
PROGRAM REVENUES Education – Charges for services General government – Charges for services Total revenue EXPENDITURES Education General government Debt service – interest Total expenditures GENERAL REVENUES Appropriation from State resources Reappropriations to future year(s) Net change in liabilities for reappropriated accounts TRANSFERS Receipts remitted to State Treasurer Capital transfers to other State agencies Operating transfers to other State agencies Total general revenues and transfers NET ASSETS Change in net assets Lapsed appropriations Net assets, July 1 Cumulative effect of change in accounting principle Net assets, June 30 |
$24,000 26,341 $50,341
$(810,889) (39,007) (35) $(849,931)
$3,138,974 (2,024,175) 41,472
(61) (364,391) (7,288) $784,531
$(15,059) (105,658) 241,707 0 $120,990 |
$20,036 48,142 $68,178
$(806,800) (52,404) (50) $(859,254)
$3,408,983 (2,236,666) (30,717)
(90) (301,509) (107) $839,894
$48,818 (84,474) 281,233 (3,870) $241,707 |
SELECTED ACCOUNT BALANCES – (In thousands) |
FY 2003 |
FY 2002 |
Cash and cash equivalents Intergovernmental receivables Other receivables Capital assets not being depreciated Accounts payable and accrued liabilities Intergovernmental payables Deferred revenue Net assets, invested in capital assets, net of debt Net assets, unrestricted |
$34,660 $2,290 $554 $117,126 $93,124 $66,321 $6,400 $117,271 $3,719 |
$28,803 $5,557 $3,849 $236,517 $105,213 $9,487 $6,629 $236,747 $4,960 |
EXECUTIVE DIRECTOR(S) | ||
During Audit Period: Kim Robinson (through 9-30-02), Dan Egler, Acting (10-1-02 to 3-30-03, Gevan Behnke, Acting (3-31-03 to 6-24-03), Anthony Rossi (effective 6-25-03) Currently: Anthony Rossi |