REPORT DIGEST

ILLINOIS GRAIN INSURANCE CORPORATION

COMPLIANCE EXAMINATION
FOR THE TWO YEARS ENDED JUNE 30, 2021

Release Date:  June 16, 2022

FINDINGS THIS AUDIT:  1

FINDINGS LAST AUDIT: 2

State of Illinois, Office of the
Auditor General
FRANK J. MAUTINO, 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

The Illinois Grain Insurance
Corporation (Corporation) was created
to make investments with funds
assessed and collected by the
Department of Agriculture (Department)
and to transfer funds to the
Department’s Grain Indemnity Trust
Fund when the Director of the
Department determines it necessary in
order to compensate claimants in
accordance with the Illinois Grain
Code. The assessments are collected
from grain dealers, warehousemen,
grain sellers, and lenders as
established in the Code.

This digest covers the compliance
examination of the Corporation for the
two years ended June 30, 2021. The
Corporation’s financial audit covering
the two years ended June 30, 2021 will
be released under a separate cover.
The finding referenced above was
reported in the financial audit digest
and therefore will not be duplicated
in this digest.

ACCOUNTANT’S OPINION

The accountants conducted a State
compliance examination of the
Corporation for the two years ended
June 30, 2021, as required by the
Illinois State Auditing Act.  The
accountants qualified their report on
State compliance for Finding 2021-001.
Except for the noncompliance described
in this finding, the accountants
stated the Corporation complied, in
all material respects, with the
requirements described in the report.

This State compliance examination was
conducted by Adelfia LLC.

JANE CLARK
Division Director

This report is transmitted in
accordance with Section 3-14 of the
Illinois State Auditing Act.

FRANK J. MAUTINO
Auditor General

FJM:jv