REPORT DIGEST

EASTERN ILLINOIS UNIVERSITY FOUNDATION

FINANCIAL AUDIT
For the One Year Ended:
June 30, 2001
and

COMPLIANCE AUDIT
For the Two Years Ended:
June 30, 2001

Summary of Findings:

Total this audit 0
Total last audit 0
Repeated from the last audit 0

Release Date:
March 15, 2002

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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 our financial and compliance audit of the Foundation. Our audit was performed to express an opinion on the Eastern Illinois University Foundation’s financial statements and to report on special data required by the University Guidelines. The Guidelines were issued by the Legislative Audit Commission to codify and improve the State universities’ fiscal practices and administration of locally held funds.

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

There were no material findings of noncompliance disclosed during our audit tests. We commend the Foundation for maintaining an effective system of internal controls.

AUDITORS' OPINION

The auditors state the Eastern Illinois University Foundation financial statements as of June 30, 2001 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 FOUNDATION
FINANCIAL AND COMPLIANCE AUDIT
For the Period(s) Ended June 30, 2001

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2001

FY 2000

REVENUE
Gifts
Interest and dividends
Loss on sale of real estate investments
Net increase (decrease) in fair value of investments
Other revenues and additions
Total revenue and other additions
$3,720,960
1,793,509
-
(1,909,987)
637,426
$4,241,908
$1,310,943
1,472,576
(7,922)
2,170,588
560,189
$5,506,374
EXPENDITURES
Operations
Awards, scholarships, and grants
Other expenditures
Total expenditures
Net Increase in funds for the Year

BALANCE SHEET INFORMATION
Assets
Cash and Investments
Other Assets
Total Assets
Liabilities and Fund Balances
Liabilities


$ 805,156
1,138,225
76,559
$2,019,940
$2,221,968

 

$36,528,430
203,807
$36,732,237

$7,404,278


$ 716,398
1,475,521
88,341
$2,280,260
$3,226,114

 

$36,082,755
200,826
$36,283,581

$9,177,590

Fund Balances
Current Unrestricted
Current Restricted
Endowment Fund
Deferred Giving Fund
Agency Fund
Property Fund
Total Fund Balances
Total Liabilities and Fund Balances


421,938
6,208,878
21,325,977
1,194,989
-
176,177
29,327,959
$36,732,237


325,084
3,998,238
21,088,137
1,522,837
-
171,695
27,105,991
$36,283,581

AGENCY EXECUTIVE OFFICER
During Audit Period: Dr. Jon Laible
Currently: Dr. Jon Laible