REPORT DIGEST CHICAGO TECHNOLOGY PARK CORPORATION FINANCIAL AUDIT AND COMPLIANCE
EXAMINATION For the Year Ended: June 30, 2007 Summary of Findings: Total this audit 0 Total last audit 2 Repeated from last audit 0 Release Date: May 20, 2008
State of Illinois Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
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Report contact: Office of the Auditor
General Iles Park Plaza 740 E. Ash Street Springfield, IL 62703 (217) 782-6046 or TTY (888)
261-2887 This Report Digest and Full Report are also available on the worldwide web at www.auditor.illinois.gov |
FINDINGS,
CONCLUSIONS, AND RECOMMENDATIONS There were no material findings of noncompliance disclosed during our testing. AUDITORS’ OPINION
Our auditors stated that the financial
statements present fairly, in all material respects, the respective financial
position of the business-type activities of the Corporation
as of June 30, 2007, and the respective changes in net
assets and cash flows thereof for the year then ended.
_________________________________________ WILLIAM G. HOLLAND, Auditor General WGH:KMC:drh SPECIAL ASSISTANT AUDITORS Our special assistant auditors on this audit were E.C. Ortiz & Co., LLP. {Expenditures and Activity Measures are summarized on the reverse page.} |
CHICAGO TECHNOLOGY PARK CORPORATION
FINANCIAL AUDIT AND COMPLIANCE EXAMINATION
For the Year Ended June 30, 2007
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS |
FY 2007 |
FY 2006* |
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OPERATING REVENUES Federal Grants and Contracts State Grants and Contracts Other Revenue Total Operating Revenues OPERATING EXPENSES Grant Programs Depreciation and Amortization Total Operating Expenses OPERATING (LOSS) INCOME NONOPERATING REVENUES (EXPENSES) Interest Income CHANGE IN NET ASSETS (DEFICIT) |
$1,097,996 2,754 $1,100,750
$
477,321
$ 306 |
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STATEMENT OF NET
ASSETS |
FY 2007 |
FY 2006* |
|
ASSETS Cash and Cash Equivalents Accounts Receivable Due from other State Agencies Other Assets Capital Assets (net) Total Assets LIABILITIES Accounts Payable and Accrued Expenses Total Liabilities: NET ASSETS Restricted for grant activities Invested in Capital Assets (net) Total Net Assets TOTAL LIABILITIES AND NET ASSETS |
$ 14,097 68,245 -- 284,518 2,748 $369,608 $
53,941 $ 53.941
$ 312,919 2,748 $ 315,667
$ 369,608 |
$ 82,280 531,181 94 554,531 8,251 $1,176,337 $ 546,961 $ 546,961
$ 621,125 8,251
629,376
$1,176,337 |
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EXECUTIVE DIRECTOR |
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During Audit Period: Samuel Pruett
Current: Samuel Pruett. |
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