REPORT DIGEST

NORTHERN ILLINOIS UNIVERSITY FOUNDATION

FINANCIAL AUDIT

For the Year Ended:

June 30, 2001

 

Release Date:
February 7, 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 ending June 30, 2001.

 

 

AUDITORS’ OPINION

 

Our auditors state the Foundation’s financial statements as of June 30, 2001 were fairly presented.

 

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:SES:pp

 

SPECIAL ASSISTANT AUDITORS

The Bronner Group, Inc. were our special assistant auditors on this audit.

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

 

NORTHERN ILLINOIS UNIVERSITY FOUNDATION
FINANCIAL AUDIT
For the Year Ended June 30, 2001

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2001

FY 2000
REVENUES AND OTHER ADDITIONS
Gifts
Royalties
Investment Income
Contract Services Provided to NIU
Expended for Plant Facilities
All Other Income
Total Revenue and Other Additions
$26,742,633
404,570
1,404,693
381,494
2,119,282
127,094
$31,179,766
$11,808,113
1,406,016
1,762,804
330,842
146,802
200,474
$15,655,051
EXPENDITURES AND OTHER DEDUCTIONS
Scholarships
Support for University Departments and Programs
Library books, equipment and property
     improvements
Administrative Services provided to NIU
Administrative and Office Expenses
Construction of Building
Disposals and Retirements
Total Expenditures and Other Deductions 		 

$702,142
2,982,413

6,946,432
311,494
115,178
2,056,882
2,224,142
$15,338,683

  

$537,059
2,377,629

2,069,716
260,860
112,574
0
0
$5,357,838
SELECTED ACCOUNT BALANCES

AT JUNE 30, 2001

AT JUNE 30, 2000
Cash and Cash Equivalents
Investments
Land and Buildings
Equipment
Construction in Progress
Accounts Payable
Due to Northern Illinois University
Deposits Held for Northern Illinois University
     Alumni Association
Unrestricted Fund Balance
Restricted Fund Balance
Endowment
Investment in Plant 		$ 1,928,478
44,392,240
4,026,152
0
2,056,882
885,968
991,990
1,817,265
2,585,901
20,776,110
19,286,709
6,533,576		 $ 2,215,614
27,368,372
4,026,152
2,038,672
0
158,600
1,130,905
1,625,888
1,942,390
5,935,549
18,823,838
6,638,436


FOUNDATION OFFICIALS
During Audit Period: President: Mallory M. Simpson
Currently: President: Mallory M. Simpson