REPORT DIGEST

GOVERNORS STATE UNIVERSITY ALUMNI ASSOCIATION

FINANCIAL AUDIT

For the Year Ended:

June 30, 2002

 

Release Date:
February 27, 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 for the period ended June 30, 2002.

 

 

 

AUDITORS’ OPINION

Our auditors state the June 30, 2002 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 AUDIT
For The Year Ended June 30, 2002

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2002

FY 2001

REVENUE

Contributions
Investment Revenue
Support from University
Alumni Events
Total Revenue

EXPENSES

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

 

$86,390
1,329
10,054
2,110
$99,883

 

$19,427
57,419
10,054
5,072
20,369
$112,341

 

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

 

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

SELECTED ACCOUNT BALANCES

AT JUNE 30, 2002

AT JUNE 30,2001

Cash and Investments
Accounts Receivable
Total Assets
Accounts Payable
Net Assets
Unrestricted
Restricted – Nonexpendable
Restricted – Expendable
Total Net Assets

$258,198
7,270
$265,468
$26,255

$155,727
57,071
26,415
$239,213

$277,608
855
$278,463
$26,792

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

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