REPORT DIGEST

REPORT DIGEST

NORTHERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

Release Date:

January 31, 2007

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 and Full Report are also available on

the worldwide web at

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

INTRODUCTION

Our report covers the financial audit for the period ending June 30, 2006. A single audit and compliance examination covering the year ending June 30, 2006 will be issued at a later date.

AUDITORS’ OPINION

Our auditors stated the financial statements of Northern Illinois University as of June 30, 2006, and for the year then ended, 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 Clifton Gunderson, LLP.

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

NORTHERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT

For The Year Ended June 30, 2006 (in Thousands)

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS	FY 2006	FY 2005
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 increase (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................................................................................	$100,632 55,075 22,344 87,643 2,205 $267,899 $114,033 15,941 27,210 28,923 12,600 24,509 30,718 27,134 52,619 10,821 68,102 $412,610 ($144,711) $157,514 3,014 (8,190) 5,549 (350) $157,537 $12,826 189,857 $202,683	$92,823 53,057 18,927 81,928 1,817 $248,552 $108,826 14,402 25,738 27,571 11,615 23,607 27,015 26,221 53,945 10,648 67,066 $396,654 ($148,102) $157,612 1,732 (8,627) 350 37 $151,104 $3,002 186,855 $189,857
ACCOUNT BALANCES (ALL FUNDS)	FY 2006	FY 2005
Cash and cash equivalents.............................................................................. Investments and marketable securities.......................................................... Capital assets, net............................................................................................. Accrued compensated absences.................................................................... Noncurrent revenue bonds payable..............................................................	$12,073 $74,010 $298,150 $23,644 $107,885	$7,100 $66,483 $301,629 $23,864 $111,891
UNIVERSITY PRESIDENT
During Audit Period: Dr. John G. Peters Currently: Dr. John G. Peters

INTRODUCTION

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS

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

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