REPORT DIGEST

REPORT DIGEST

NORTHERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

(In accordance with the Federal Single Audit Act and OMB Circular A-133)

For the Year Ended:

June 30, 2004

Summary of Findings:

Total this audit 0

Total last audit 4

Repeated from last audit 0

Release Date:

February 17, 2005

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

Iles Park Plaza

740 E. Ash Street

Springfield, IL 62703

(217) 782-6046 or TTY (888) 261-2887

This Report Digest is also available on

the worldwide web at

http://www.state.il.us/auditor

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

There were no material findings of noncompliance disclosed during our testing. We commend the University for maintaining effective internal controls.

AUDITORS’ OPINION

Our auditors stated the financial statements of Northern Illinois University as of June 30, 2004, and for the year then ended, 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 The Bronner Group.

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

NORTHERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

For The Year Ended June 30, 2004 (in Thousands)

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS	FY 2004	FY 2003
OPERATING REVENUES Student tuition and fees, net......................................................................... Grants, contracts, and gifts........................................................................... Sales and services of educational departments........................................... Auxiliary enterprises....................................................................................... Other................................................................................................................. Total Operating Revenues.......................................................................... OPERATING EXPENSES Instruction........................................................................................................ Research........................................................................................................... Public service................................................................................................... Academic support........................................................................................... Student services.............................................................................................. Operation and maintenance of plant............................................................ Institutional support....................................................................................... Depreciation...................................................................................................... Staff benefits.................................................................................................... Student aid....................................................................................................... Auxiliary enterprises....................................................................................... Total Operating Expenses........................................................................... Operating loss.................................................................................................. NONOPERATING REVENUES (EXPENSES) State appropriations........................................................................................ Investment income........................................................................................... Interest expense................................................................................................. Gifts...................................................................................................................... Net decrease in fair value of investments.................................................... Total Nonoperating Revenues........................................................................... INCREASE IN NET ASSETS............................................................................ Net Assets, beginning of the year.................................................................... Net Assets, end of the year................................................................................	$84,541 48,541 18,457 81,552 1,866 $234,957 $106,198 12,966 22,421 25,287 11,016 20,514 22,569 25,348 126,255 10,250 66,561 $449,385 ($214,428) $225,792 729 (8,281) 0 (192) $218,048 $3,620 185,028 $188,648	$70,901 47,639 19,254 78,279 1,903 $217,976 $105,260 13,415 21,606 24,282 10,742 29,389 18,169 (1) 25,267 43,521 8,075 60,068 $359,794 ($141,818) $160,691 602 (9,232) 20,106 (103) $172,064 $30,246 (1) 154,782 $185,028
ACCOUNT BALANCES (ALL FUNDS)	FY 2004	FY 2003
Cash and cash equivalents.............................................................................. Investments and marketable securities.......................................................... Capital assets, net............................................................................................. Accrued compensated absences.................................................................... Revenue bonds payable..................................................................................	$10,364 $50,059 $314,274 $23,666 $118,620	$26,332 $26,775 $315,161 $24,174 $119,408
SUPPLEMENTARY INFORMATION (In whole numbers)	FY 2004	FY 2003
Employment Statistics Appropriated and Nonappropriated funds: Faculty/administrative.................................................................................... Civil service...................................................................................................... Student employees......................................................................................... Miscellaneous contracts................................................................................ Total Employees............................................................................................ Selected Activity Measures Fall semester enrollment – Undergraduate.................................................... Fall semester enrollment – Graduate.............................................................. Fall semester enrollment – Professional........................................................	2,135 1,456 541 130 4,262 16,533 3,177 416	2,170 1,497 517 125 4,309 16,298 3,251 409
UNIVERSITY PRESIDENT
During Audit Period: Dr. John G. Peters Currently: Dr. John G. Peters

(1) The FY 03 column includes a prior period adjustment of $13,803,695.

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS

Operating loss..................................................................................................

INCREASE IN NET ASSETS............................................................................

UNIVERSITY PRESIDENT