REPORT DIGEST

PRAIRIE STATE 2000 AUTHORITY

 

FINANCIAL AUDIT

For the One Year Ended:

June 30, 2003

 

COMPLIANCE AUDIT

For the Two Years Ended:

June 30, 2003

 

Summary of Findings:

Total this audit                      1

Total last audit                      0

Repeated from last audit       0

 

Release Date:

February 18, 2004

 

 

 

 

 

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 TDD (217) 524-4646

 

This Report Digest is also available on

the worldwide web at

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

 

 

SYNOPSIS
  • The Authority did not deposit cash receipts in a timely manner.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

                                        PRAIRIE STATE 2000 AUTHORITY

                    FINANCIAL AUDIT FOR THE YEAR ENDED JUNE 30, 2003

              COMPLIANCE AUDIT FOR THE TWO YEARS ENDED June 30, 2003

 

EXPENDITURE STATISTICS

FY 2003

FY 2002

FY 2001

  • Total Expenditures (All Funds)

OPERATIONS TOTAL

     % of Total Expenditures

 

Personal Services

9;      % of Operations Expenditures

9;      Average No. of Employees

 

Other Payroll Cost (FICA, Retirement)

9;      % of Operations Expenditures

 

Contractual Services

9;      % of Operations Expenditures

 

All Other Operations Items

9;      % of Operations Expenditures

 

GRANTS TOTAL

     % of Total Expenditures

  • Cost of Property and Equipment

$1,134,875

 

$329,529

29.0%

 

$210,933

64.0%

3

 

$47,461

14.4%

 

$47,554

14.4%

 

$23,581

7.2%

 

$805,346

71.0%

 

$81,815

$3,991,555

 

$431,059

10.8%

 

$217,533

50.5%

3

 

$48,670

11.3%

 

$137,632

31.9%

 

$27,224

6.3%

 

$3,560,496

89.2%

 

$103,958

$3,617,150

 

$547,634

15.1%

 

$285,101

52.1%

6

 

$62,273

11.3%

 

$165,199

30.2%

 

$35,061

6.4%

 

$3,069,516

84.9%

 

$103,958

 

SELECTED ACTIVITY MEASURES

FY 2003

FY 2002

FY 2001

  • Employer Training Assistance Awards

  • No. of Employees Trained

  • Individual Training Grants

  • No. of Individuals Trained

-

 

-

 

-

 

-

205

 

4,689

 

8,004

 

7,500

165

 

5,231

 

7,000

 

6,900
 
AGENCY DIRECTOR(S)
During Audit Period: Cesar Lopez (3/16/01 to Present)

 

 

 

 

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

TIMELY DEPOSITS OF CASH RECEIPTS

Prairie State 2000 Authority (Authority) did not deposit cash receipts in a timely manner.

Our testing of cash receipts revealed that 6 of 11 (55%) receipts, totaling $29,081 were deposited between 3 and 28 days late.

We recommended that the successor agency comply with the State Officers and Employee Money Disposition Act by depositing receipts within the required time period. (Finding 1, page 12)

The successor agency concurred with the finding and stated that they will ensure that receipts are deposited timely.

SUBSEQUENT EVENT

In March 2003 the Governor signed Executive Order 2003-11 transferring all the powers, duties, rights and responsibilities vested in Prairie State 2000 Authority to the Department of Commerce and Economic Opportunity. The Executive Order was effective on the 61st day (June 1, 2003) after its delivery to the General Assembly. However, the transfer and abolishment of the Authority was effective for July 1, 2003.

AUDITORS’ OPINION

Our auditors stated the financial statements of the Prairie State 2000 Authority as of June 30, 2003 and for the year then ended are fairly stated in all material respects.

 

___________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:TLK:pp

SPECIAL ASSISTANT AUDITORS

Our special assistant auditors were James Williams & Company, LLC.