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REPORT DIGEST NORTHERN ILLINOIS UNIVERSITY FOUNDATION FINANCIAL
AUDIT For the Year Ended: June 30, 2006 Release Date:
November 29, 2006
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 |
INTRODUCTION
Our report covers the
financial audit for the period ending June 30, 2006.
A compliance examination covering the two
years ended June 30, 2006 is being issued separately. AUDITORS’ OPINION
Our auditors state the Foundation’s financial statements as of June 30, 2006 are fairly presented in all material respects. ______________________________________ WILLIAM G. HOLLAND, Auditor General WGH:TLK:PP SPECIAL ASSISTANT AUDITORS
Clifton Gunderson, LLP 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, 2006
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FINANCIAL OPERATIONS (ALL FUNDS) |
FY
2006 |
FY
2005 |
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REVENUES
(Operating and Nonoperating) Gifts..................................................................... Investment Income............................................... Services Contract Revenue from NIU................... All Other Income................................................. Total
Revenues.............................................. |
$13,919,238 3,565,157 523,074 395,455 $18,402,924 |
$15,598,414 3,324,967 531,719 1,196,671 $20,651,771 |
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EXPENSES Scholarships and Fellowships............................... Support for University Departments and Programs Fundraising.......................................................... Institutional Support............................................. Total Expenses..................................................... Increase in Net Assets |
$736,494 13,519,974 1,056,756 329,735 $15,642,959 $2,759,965 |
$731,883 8,673,751 1,058,418 273,267 $10,737,319 $9,914,452 |
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SELECTED
ACCOUNT BALANCES (ALL FUNDS) |
AT
JUNE 30, 2006 |
AT
JUNE 30, 2005 |
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Cash and Cash Equivalents................................... Investments.......................................................... Capital assets....................................................... Building Construction in Progress.......................... Other Assets........................................................ Total Assets......................................................... Accounts Payable................................................ Deposits Held
for NIU Alumni Association........... Endowment Administered for NIU....................... Other Liabilities.................................................... Total Liabilities..................................................... Net AssetsUnrestricted ........................................................ Restricted Nonexpendable................................... Restricted Expendable.......................................... Invested in capital assets....................................... Total Net Assets.................................................. |
$ 4,727,117 49,158,409 4,259,237 832,265 4,158,770 $63,135,798 $1,063,558 2,332,380 2,913,882 1,654,076 $7,963,896 $5,367,120 29,900,664 15,644,881 4,259,237 $55,171,902 |
$ 1,889,047 46,584,909 4,232,273 5,015,337 3,749,614 $61,471,180 $2,357,029 2,441,270 2,962,084 1,298,860 $9,059,243 $5,083,153 26,680,881 16,415,630 4,232,273 $52,411,937 |
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FOUNDATION PRESIDENT |
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During Audit
Period: Mallory M. Simpson Currently: Mallory M. Simpson |
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