INTRODUCTION
The Prairie State 2000 Authority was created by the Prairie State 2000
Authority Act on January 1, 1986.
The Authority’s major function is to establish, operate and maintain an
educational and vocational training program to create jobs, reduce unemployment costs and
meet the needs of the economy for skilled workers.
FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS
UNTIMELY DEPOSITS OF CASH RECEIPTS
The Authority failed to ensure the prompt deposit of cash receipts.
We noted 4 of 21 receipts tested were deposited between 1 and 6 days late. The State
Officers and Employee Money Disposition Act (30 ILCS 230/2(a)) requires that an
accumulation of receipts exceeding $500, but less than $10,000, be deposited within 48
hours excluding weekends and holidays. Effective in May, 1998, the Treasurer and
Comptroller granted a two-day extension to the Authority for depositing their receipts and
refunds. (Finding 1, pages 12-13) This finding has been repeated since 1995.
We recommended the Authority comply with the State Officers and Employee Money
Disposition Act by depositing receipts within the required time period.
Authority officials agreed with the finding and stated they have improved the
depositing activity by 86% from the FY 1997 review. Further, they will continue their
efforts to ensure that all deposits are made within the required time period. (For
previous agency responses, see Digest Footnote 1.)
OTHER FINDINGS
There were no other findings to report. Responses by the Authority were provided by
Cezar Lopez, Operations Manager.
AUDITORS’ OPINION
Our auditors state the financial statements of the Prairie State 2000 Authority
as of June 30, 1999, and for the year then ended are fairly stated in all material
respects.
___________________________________
WILLIAM G.HOLLAND, Auditor General
WGH:SES:pp
SPECIAL ASSISTANT AUDITORS
Our special assistant auditors were Williams & Williams.
DIGEST FOOTNOTES
#1 TIMELY DEPOSIT OF CASH RECEIPTS - Previous Authority Responses
1997: "We agree with the finding and are very concerned with being in compliance
with the Act. We are currently communicating with the Treasurer's Office and the
Comptroller's Office to request an extension of 48 hours to make deposits. The deposits
would still be made within a reasonable amount of time, while permitting flexibility of
staff schedules.
The Authority personnel - six full-time employees - are currently operating at
capacity. Due to limited administrative resources, the timing of some deposits has
extended beyond the State Officers and Employee Money Disposition Act's requirements.
Staff estimates the loss of interest revenue to be $12.00 over the period covered by the
audit."
1995: "We agree with this finding. 37 deposits were delayed 1 to 30 days (60%), 10
were delayed 31-90 days (16%), and 11 were delayed 91-145 days (18%) during a period where
the Fiscal Accounts Coordinator position was vacant, and the Authority was seeking a new
coordinator. In addition, during this time, the Treasurer's Office changed banks of
deposit and some checks were held and thus delayed since they were sent to the old bank of
deposit. Loan payment checks that are received by the Authority are held in its offices
are securely locked in for safe keeping before being deposited.
The circumstances relating to this finding might not have occurred had the Authority
been allocated the Fiscal Accounts Clerk position that it has requested for the past five
years."
