REPORT DIGEST

OFFICE OF THE COMPTROLLER

FISCAL OFFICER RESPONSIBILITIES

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

For the Year Ended:

June 30, 2006

Summary of Findings:

Total this audit                          0

Total last audit                          0

Repeated from last audit           0

Release Date:

March 6, 2007 

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

Iles Park Plaza

740 E. Ash Street

Springfield, IL 62703

(217) 782-6046 or TTY (888) 261-2887

This Report Digest and Reports are also available on the worldwide web at

http://www.state.il.us/auditor

INTRODUCTION

      Our 2006 Financial Audit and Compliance Examination of the Comptroller's Fiscal Officer Responsibilities is presented in two parts.  The compliance part is presented in one report and the financial part is presented in the State Comptroller's "Traditional Budgetary Financial Report."  Our opinion on the Statewide basic financial statements prepared in accordance with generally accepted accounting principles is contained in the separately issued Comprehensive Annual Financial Report.

FINDING, CONCLUSION, AND RECOMMENDATION

      There were no material findings of noncompliance disclosed during our audit tests.  We commend the Office of the Comptroller - Fiscal Officer Responsibilities for maintaining effective internal controls.

AUDITORS’ OPINIONS

      Our auditors state the Statement of Fund Balances – Budgetary Basis and Statement of Receipts and Expenditures – Budgetary Basis as of and for the year ended June 30, 2006 were fairly presented in all material respects. 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:TLD:pp

SPECIAL ASSISTANT AUDITORS

      The firm of Sleeper, Disbrow, Morrison, Tarro & Lively, LLC were our special assistant auditors.

{Financial Information and Activity Measures are summarized on the next page.}

Fiscal Year 2006

Fiscal Year 2005

FUND BALANCE (Amounts in Thousands)

Cash

Balance

Budgetary

Balances*

Cash

Balance

Budgetary

Balance*

APPROPRIATED FUNDS

General Funds.....................................

Highway Funds...................................

Special State Funds.............................

Bond Financed Funds.........................

Debt Service Funds.............................

Federal Trust Funds............................

Revolving Funds..................................

State Trust Funds................................

$590,434

926,105

2,432,690

532,929

626,210

176,142

68,969

436,667

$(290,887)

789,008

1,789,168

532,133

626,210

(326,336)

13,621

387,522

$497,104

733,327

2,326,622

228,225

647,597

175,819

90,732

418,767

$(474,035)

628,449

1,846,917

227,938

647,597

(175,909)

20,026

358,051

            Sub-total...............................

 $5,790,146

 $3,520,439

 $5,118,193

 $3,079,035

NON-APPROPRIATED FUNDS

Federal Trust Funds............................

State Trust Funds................................

$2,345

1,507,593

$1,556

1,475,453

$8,737

1,199,765

$7,590

1,172,448

            Sub-total...............................

GRAND TOTAL - ALL FUNDS....

*   Budgetary Balances represent the balances remaining after reduction of Cash Balances at June 30 by expenditures made during the lapse period.

FINANCIAL HIGHLIGHTS (Amounts in Thousands)

YEAR ENDED

JUNE 30, 2006

YEAR ENDED

JUNE 30, 2005

Total Receipts - All Funds

$88,898,110

$82,515,457

Total Expenditures - All Funds

$88,159,735

$82,448,447

Net Change In Budgetary Fund Balance - All Funds

$738,375

$67,010

Interest Paid on Late Vendor Payments (unaudited)

$1,125

$526

STATE COMPTROLLER

During Audit Period: Honorable Daniel W. Hynes

Currently:  Honorable Daniel W. Hynes