REPORT DIGEST

GOVERNORS STATE UNIVERSITY ALUMNI ASSOCIATION

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

COMPLIANCE AUDIT
For the TwoYears Ended:
June 30, 2001

Summary of Findings:

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

Release Date:
March 26, 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

 

 

 

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

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

 

 

 

AUDITORS’ OPINION

Our auditors state the June 30, 2001 financial statements of the Governors State University Alumni Association are fairly presented in all material respects.

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Our special assistant auditors for this audit were

De Raimo, Hillger & Ripp.

 

 

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

GOVERNORS STATE UNIVERSITY ALUMNI ASSOCIATION
FINANCIAL AND COMPLIANCE AUDIT
For The Two Years Ended June 30, 2001

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2001

FY 2000

REVENUE

Contributions
Investment Revenue
Support from University
Alumni Events
Total Revenue

EXPENDITURES

Academic Awards
University Support
Budget Allocation from GSU
Alumni Events
General
Total Expenditures

 

$77,412
7,671
10,417
2,457
$97,957

 

$23,700
34,388
10,417
33,667
19,113
$121,285

 

$98,114
13,242
8,067
7,354
$126,777

 

$31,632
33,951
8,067
7,215
14,151
$95,016

SELECTED ACCOUNT BALANCES

AT JUNE 30, 2001

AT JUNE 30,2000

Cash and Investments
Accounts Receivable
Total Assets
Accounts Payable
Fund Balances
Current Unrestricted
Current Restricted
Endowment Fund
Total Fund Balances
Total Liabilities and Fund Balances

$277,608
855
$278,463

$26,792

$151,674
44,727
55,270
$251,671
$278,463

$269,936
7,160
$277,096

$2,097

$171,264
50,606
53,129
$274,999
$277,096

ALUMNI ASSOCIATION DIRECTOR
During Audit Period: Rosemary D. Hulett
Currently: Rosemary D. Hulett