REPORT DIGEST NORTHERN ILLINOIS UNIVERSITY FINANCIAL AUDIT For the Year Ended: June 30, 2009 Release Date: March 3, 2010 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 www.auditor.illinois.gov

INTRODUCTION This digest covers our financial audit of Northern Illinois University for the year ended June 30, 2009. A compliance examination covering the year ended June 30, 2009 will be issued at a later date. AUDITORS’ OPINION Our auditors stated the financial statements of Northern Illinois University as of June 30, 2009, and for the year then ended, are fairly presented in all material respects. ____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:LKW: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, 2009 (in Thousands)

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS	FY 2009	FY 2008
OPERATING REVENUES Tuition and fees, net.............................................................. Auxiliary enterprises............................................................. Grants, contracts, and gifts.................................................... Sales and services of educational departments........................ Other................................................................................... Total Operating Revenues.............................................. OPERATING EXPENSES Instruction............................................................................ Research.............................................................................. Public service....................................................................... Academic support................................................................ Student services................................................................... Operation and maintenance of plant...................................... Depreciation......................................................................... Institutional support.............................................................. Staff benefits........................................................................ Student aid........................................................................... Auxiliary enterprises............................................................. Total Operating Expenses.............................................. Net Operating Loss............................................................. NONOPERATING REVENUES (EXPENSES) State appropriations.............................................................. Investment income................................................................. Pell grants............................................................................. Interest expense...................................................................... Net increase in fair value of investments Total Nonoperating and Other Revenues............................ INCREASE IN NET ASSETS.............................................. Net Assets, beginning of the year.............................................. Net Assets, end of the year...................................................	$125,882 97,949 45,511 20,716 3,977 $294,035 $126,776 22,319 24,020 34,790 12,052 30,842 20,831 31,878 72,004 17,151 83,071 $475,734 ($181,699) $177,502 1,917 16,861 (8,641) 117 $187,756 $ 6,057 215,805 $221,862	$116,800 97,946 38,652 20,759 3,274 $277,431 $125,392 17,263 27,864 31,966 12,828 25,628 19,208 35,075 66,331 15,057 77,777 $454,389 ($176,958) $169,399 2,993 14,498 (8,756) 349 $178,483 $ 2,150 213,655 $215,805
SELECTED ACCOUNT BALANCES	FY 2009	FY 2008
Cash and cash equivalents...................................................... Investments and marketable securities..................................... Capital assets, net................................................................... All other assets....................................................................... Accounts payable and accrued liabilities.................................. Revenue bonds, notes, contracts and leases payable................ All other liabilities...................................................................	$32,668 54,530 320,261 54,892 43,063 153,468 $43,958	$11,017 93,046 317,515 35,165 33,255 157,836 $49,847
UNIVERSITY PRESIDENT
During Audit Period: Dr. John G. Peters Currently: Dr. John G. Peters