|
REPORT
DIGEST FINANCIAL AUDIT
For the Year Ended: June 30, 2008 Summary
of Findings: Total last audit 0 Repeated from last
audit 0 R December 18, 2008
State of Illi Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
To obtain a copy of the
Report contact: Office of the Auditor
General
(217)
782-6046 or TTY (888) 261-2887 This Report Digest and Full
Report are also available on the worldwide web at http://www.auditor.illinois.gov
|
AUDITORS’ OPINIONOur auditors state the June 30, 2008 financial statements of the Governors State University Alumni Association are fairly presented in all material respects. ____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:TLK:pp SPECIAL ASSISTANT AUDITORS Our special assistant auditors for this audit were {Expenditures and Activity
Measures are summarized on the reverse page.} |
FINANCIAL AUDIT
For
the Year Ended June 30, 2008
|
FINANCIAL OPERATIONS (ALL FUNDS) |
FY 2008 |
FY 2007 |
|
REVENUE Contributions .................................................. Investment Income........................................... Support from University................................... Total Revenue..................................... EXPENSES Scholarships.................................................... Donations to GSU Foundation......................... Budget Allocation from GSU........................... Alumni Events.................................................. General........................................................... Total Expenses....................................
Increase in net assets....................................... NET ASSETS Net Assets – beginning of year......................... Net Assets – End of year................................. |
$42 7,020 11,694 40,507 $59,263 $4,420 15,000 11,694 24,367 14,345 $69,826 ($10,563) $186,351 $175,788 |
$525 8,456 5,213 50,876 $65,070 $2,895 0 5,213 28,129 14,780 $51,017 $14,053 $172,298 $186,351 |
|
SELECTED ACCOUNT BALANCES |
AT JUNE 30, 2008 |
AT JUNE 30, 2007 |
|
Cash and Cash Equivalents.............................. Accounts Payable............................................ Unrestricted........................................... Restricted – Nonexpendable.................. Restricted – Expendable......................... Total Net Assets..................................... |
$176,894 $176,894 $1,106 $91,176 77,152 7,460 $175,788 |
$194,873 $194,873 $8,522 $101,224 77,152 7,975 $186,351 |
|
ALUMNI ASSOCIATION DIRECTOR |
||
|
During Audit Period and Currently: Rosemary D. Hulett |
||
