REPORT DIGEST GOVERNORS STATE UNIVERSITY Financial Audit For the Year Ended June 30, 2014 Release Date: January 8, 2015 FINDINGS THIS AUDIT: 0 FINDINGS LAST AUDIT: 0 Category 1: Findings that are material weaknesses in internal control and/or a qualification on compliance with State laws and regulations (material noncompliance). Category 2: Findings that are significant deficiencies in internal control and noncompliance with State laws and regulations. Category 3: Findings that have no internal control issues but are in noncompliance with State laws and regulations. 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 the Governors State University’s Financial Audit as of and for the year ended June 30, 2014. The Governors State University’s Compliance Examination (including the Single Audit) covering the year ended June 30, 2014 will be issued at a later date. AUDITORS' OPINION Our auditors state the financial statements of the Governors State University as of and for the year ended June 30, 2014 are fairly presented in all material respects. WILLIAM G. HOLLAND Auditor General WGH:JGR SPECIAL ASSISTANT AUDITORS Our Special Assistant Auditors for this audit were E.C. Ortiz & Co., LLP.