REPORT DIGEST

ILLINOIS STATE UNIVERSITY FOUNDATION

FINANCIAL AUDIT

For the Year Ended:

June 30, 2001

Release Date:
March 19, 2002

Logo.gif (1870 bytes)

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, 2001.

 

AUDITORS' OPINION

Our auditors state the financial statements of the Illinois State University Foundation as of June 30, 2001 and for the year then ended, are fairly presented in all material respects.

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:JHL:pp

 

SPECIAL ASSISTANT AUDITORS

Clifton Gunderson LLP were our special assistant auditors for this engagement.

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

 

 

 

 

ILLINOIS STATE UNIVERSITY FOUNDATION
FINANCIAL AUDIT
For the Period Ended June 30, 2001

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2001

FY 2000
REVENUE AND OTHER ADDITIONS
Gifts, grants, and awards
Investment income (loss)*
Net increase in fair value of investments
Nongift income*
Mennonite transfer
Property and equipment additions
Other revenue
Total Revenue and Other Additions*
EXENDITURES AND OTHER DEDUCTIONS
Awards, scholarships, and grants
Athletic support
College and academic departmental support
Foundation and development
Other operating expenditures*
Property and Equipment expenditures and deductions
Total Expenditures and Other Deductions*
NET CHANGE IN FUND BALANCE*
* FY 2000 amounts after prior period adjustment.


$9,301,170
(3,546,562)
1,868,560
1,724,947
0
51,168
399,881
$9,799,164


$800,870
2,130,700
1,754,871
663,974
1,458,849

54,885
$6,864,149
$2,935,015
$7,718,691
1,397,832
410,830
979,405
969,806
1,863,466
316,968
$13,656,998


$768,906
2,484,793
1,601,722
791,938
1,466,356

1,868,632
$8,982,347
$4,674,651
SELECTED ACCOUNT BALANCES
(ALL FUNDS)

AT JUNE 30, 2001

AT JUNE 30,
2000
Cash and Investments
Fund Balances:
Unrestricted
Restricted*
Endowment and Quasi-Endowment*
Investment in Plant
* FY 2000 balance after prior period adjustment. 		$42,613,528

$1,162,244
14,152,900
25,859,305
2,450,483		 $40,403,618

$1,371,809
11,355,295
25,559,781
2,403,032
FOUNDATION EXECUTIVE DIRECTOR
During Audit Period: Dr. Susan T. Kern
Currently: Dr. Susan T. Kern