REPORT DIGEST

PRAIRIE STATE 2000 AUTHORITY

FINANCIAL AUDIT

For the One Year Ended:

June 30, 2002

Release Date:
February 25, 2003

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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

This report covers our financial audit of the Prairie State 2000 Authority for the fiscal year ended June 30, 2002. A compliance audit covering the two years ending June 30, 2003 will be performed next year.

 

AUDITORS’ OPINION

Our auditors state the financial statements of the Prairie State 2000 Authority as of June 30, 2002, 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 Williams & Williams.

 

 

 

PRAIRIE STATE 2000 AUTHORITY
FINANCIAL AUDIT
For The Year Ended June 30, 2002
STATEMENT OF ACTIVITIES

FY 2002
REVENUES

Interest Income

EXPENDITURES/EXPENSES

General Government
Depreciation Expense
Compensated Absences
Total Expenditures/Expenses

APPROPRIATIONS (Other Sources)

Appropriations from General Revenue Fund
Less:
Amount Reappropriated to FY 2003
Lapsed Appropriation
Receipts collected and remitted to State Treasury
Total Other Sources
Change in Fund Balance/Net Assets

 

$21,493

 

$3,842,880
3,480
14,784
$3,861,144

 

$6,918,545

(1,997,106)
(929,755)
(1,958)
$3,989,726
$150,075
TOTAL FUND BALANCE/NET ASSETS

FY 2002
Fund Balance/Net Assets July 1, 2001 as previously reported
Restatements:
Change in capitalization policy and depreciation
Recording capital assets for GASB 34
Opening balances for GASB 34
Fund Balance/Net Assets July 1, 2001 as restated
Change in Fund Balance/Net Assets
Fund Balance/Net Assets June 30, 2002

$260,031

(17,395)
103,958
(10,609)
$335,985
150,075
$486,060
AGENCY DIRECTOR(S)
During Audit Period: Cesar Lopez, Acting Chief Executive Officer (7/1/01 to Present)
Currently: Cesar Lopez, Acting Chief Executive Officer