REPORT DIGEST

OFFICE OF THE COMPTROLLER
FISCAL OFFICER RESPONSIBILITIES

Financial Audit and Compliance Examination
For the Year Ended: June 30, 2013

 
Release Date:   December 19, 2013

Summary of Findings:
Total this audit: 1
Total last audit:  1
Repeated from last audit: 1

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 Full Report are also
available on the worldwide web at
www.auditor.illinois.gov

INTRODUCTION

This digest covers our financial audit and
compliance examination of the State of Illinois
Office of the Comptroller – Fiscal Officer
Responsibilities for the year ended June 30,
2013.

SYNOPSIS

• The State of Illinois Office of the
Comptroller did not make all statutorily
mandated transfers from the General Revenue Fund
within established timeframes, as required.

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

LATE PAYMENT OF STATUTORILY MANDATED TRANSFERS

The Office of the Comptroller did not make all
transfers from the General Revenue Fund within
the established timeframes, as required.

The Office of the Comptroller processed
transfers from 33  to 416  days after the
mandated transfer date for a total of $616
million in FY13.  Failure to make inter-fund
transfers within applicable timeframes is in
noncompliance with State law and might result in
delayed use of appropriated funds.

Comptroller officials stated the late payment of
transfers occurred because of cash management
decisions and prioritization due to the lack of
available cash in the State Treasury.  Further,
some statutory provisions relating to transfers
contain language such as “as soon as possible.”
(Finding 1, pages 9-10)  This finding was first
reported in 2009.

We recommended the Comptroller make transfers
within timeframes established by applicable
statute.  While we realize that lack of
available funds in the State Treasury requires
prioritization and cash management decisions, we
also recommended the Comptroller continue in its
efforts to make transfers in as timely manner as
possible.

Comptroller officials accepted the
recommendation and stated taking into account
the financial condition of State funds, they
will continue to make transfers in the timeliest
manner possible.  (For previous response, see
Digest Footnote #1)

AUDITORS’ OPINION

We conducted a compliance examination of the
Comptroller's Fiscal Officer Responsibilities
for the year ended June 30, 2013 as required by
the Illinois State Auditing Act.

Our auditors stated the fund balances at June
30, 2013, and the revenues and expenditures for
the year then ended relating to the State of
Illinois, Office of the Comptroller - Fiscal
Officer Responsibilities’ Traditional Budgetary
Financial Report, are fairly presented in all
material respects.  The auditors noted the
financial statements have been prepared on a
comprehensive basis of accounting other than
accounting principles generally accepted in the
United States of America.


The budgetary basis deficit of the General Funds
decreased by $995 million during the fiscal year
ended June 30, 2013.  At June 30, 2013, the
budgetary basis fund balance of the General
Funds was a deficit of $3,988,362,228.

WILLIAM G. HOLLAND
Auditor General

WGH:PH

SPECIAL ASSISTANT AUDITORS

Sikich LLP were our Special Assistant Auditors
for this engagement.

DIGEST FOOTNOTES

#1 - LATE PAYMENT OF STATUTORILY MANDATED
TRANSFERS

2012:  Comptroller officials accepted the
recommendation and stated taking into account
the financial condition of State funds the
Office would continue its efforts to make
transfers in the timeliest manner possible.