REPORT DIGEST

EASTERN ILLINOIS UNIVERSITY

ALUMNI ASSOCIATION

FINANCIAL AUDIT

For the Year Ended:

June 30, 2002

 

Release Date:
April 3, 2003

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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 TDD (217) 524-4646

This Report Digest is also available on
The worldwide web at
http://www.state.il.us/auditor

  

 

INTRODUCTION

Our report covers the financial audit of the Alumni Association. Our audit was performed to express an opinion on the Eastern Illinois University Alumni Association’s financial statements.

 

 

AUDITORS' OPINION

The auditors state the Eastern Illinois University Alumni Association financial statements as of June 30, 2002 and for the year then ended are fairly presented in all material respects.

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:JAF:pp

SPECIAL ASSISTANT AUDITORS

Doehring, Winders & Co. LLP were our special assistant auditors for this engagement.

 

 

 

{Expenditures and Activity Measures are summarized on the reverse page.}

 

 

EASTERN ILLINOIS UNIVERSITY ALUMNI ASSOCIATION
FINANCIAL AUDIT
FOR THE YEAR ENDED JUNE 30, 2002

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN NET ASSETS

FY 2002

FY 2001

Operating Revenues
Membership dues
Service contract with University
Alumni Promotions
Budget allocation from University
Other operating revenue
Total operating revenues
Operating Expenses
In-kind expenses under contract with University
Printing
Promotional activities
Postage, telephone and supplies
Meetings and receptions
Professional fees
Budgeted expended at the University
Depreciation
Personal services
Insurance
Dues and subscriptions
Other operating expenses
Total operating expenses
Nonoperating Revenue (Expenses)
Investment income
Grants to University
Interest expense
Total nonoperating revenue (expense)
DECREASE IN NET ASSETS FOR THE YEAR
Net assets, beginning of year, as restated
Net assets, end of year


$34,175
27,234
9,208
7,391
2,548
$80,556

$27,234
24,771
17,923
15,109
12,887
8,468
7,391
3,540
2,357
2,293
1,497
301
$123,771

$70,918 (41,037)
(1,150)
28,731
$(14,484)
1,582,825
$1,568,341

 


$32,800
25,293
-
6,495
15,726
$80,314

$25,293
8,120
19,288
7,474
7,738
24,308
6,495
-
2,370
2,075
-
489
$103,650

$100,166
(44,729)
-
55,437
$32,101
1,584,101
$1,616,202
SELECTED ACCOUNT BALANCES AT JUNE 30

FY 2002

FY 2001
Assets
Cash and investments
Capital assets, net of accumulated depreciation (2002)
Receivables and prepaid expenses
Total Assets


$1,314,627
247,680
137,398
$1,699,705


$1,351,752
124,216
147,083
$1,623,051
Liabilities and Net Assets
Accounts payable and accrued liabilities
Mortgage payable
Invested in capital assets, net of related debt
Unrestricted net assets
Total Liabilities and Net Assets


$3,364
128,000
119,680
1,448,661
$1,699,705


$6,849
-
124,216
1,491,986
$1,568,263
ALUMNI ASSOCIATION EXECUTIVE OFFICER

During Audit Period: Mr. Steve Rich, Executive Officer
Currently: Mr. Steve Rich, Executive Officer