REPORT DIGEST

GOVERNORS STATE UNIVERSITY FOUNDATION

FINANCIAL AUDIT
For the Year Ended:
June 30, 1996

Release Date:
May 15, 1997








State of Illinois
Office of the Auditor General

WILLIAM G. HOLLAND
AUDITOR GENERAL

Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703
(217) 782-6046

INTRODUCTION

This report covers our financial audit for the year ended June 30, 1996. A compliance audit covering the two years ending June 30, 1997 will be performed next year.

AUDITORS' OPINION

Our auditors state the financial statements of Governors State University Foundation at June 30, 1996 are fairly presented.

____________________________________
WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Nykiel, Carlin, Lemna & Co. were our Special Assistant Auditors for this audit.

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

FY 1996

FY 1995

EXPENDITURES
Scholarships
University Support
General & Fundraising
Performing Arts
Other
Total Expenditures

$285,691
98,874
69,906
$454,471

$47,619
57,627
10,904
535,462
97,068
$748,680

$284,470
96,535
71,751
$452,756

$37,333
155,030
9,968
4,801
90,260
$297,392

AT JUNE 30,
1996

AT JUNE 30,
1995

$1,387,532
$1,116,851

$8,289
$2,249,414
$241,966

$1,694,600
$1,116,851

$16,578
$2,568,607
$208,693