REPORT DIGEST REGIONAL OFFICE OF EDUCATION #24 GRUNDY
AND KENDALL COUNTIES FINANCIAL AUDIT (In Accordance with the For the Year Ended: June 30, 2007 Summary of Findings: Total this audit 0 Total last audit 3 Repeated from last audit 0 Release Date: June 24, 2008
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 http://www.auditor.illinois.gov |
INTRODUCTION Our report covers the financial
audit, in accordance with the Single Audit Act and OMB Circular A-133, for
the period ending June 30, 2007. AUDITORS’ OPINION Our auditors state the Regional
Office of Education #24’s financial statements as of June 30, 2007 are fairly
stated in all material respects. _____________________________________ WILLIAM
G. HOLLAND, Auditor General WGH:KJM SPECIAL ASSISTANT AUDITORS Our special assistant
auditors were E.C. Ortiz & Co., LLP. {Expenditures and Revenues are summarized on the reverse page.} |
REGIONAL OFFICE OF EDUCATION #24
FINANCIAL AUDIT
For The Year Ended June 30, 2007
|
FY 2007
|
FY 2006
|
TOTAL REVENUES |
$5,186,694 |
$4,820,310 |
Local Sources |
$196,650 |
$251,679 |
% of Total Revenues |
3.79% |
5.22% |
State Sources |
$3,955,256 |
$3,352,794 |
% of Total Revenues |
76.26% |
69.56% |
Federal Sources |
$1,034,788 |
$1,215,837 |
% of Total Revenues |
19.95% |
25.22% |
|
||
TOTAL EXPENDITURES |
$5,128,296 |
$4,688,521 |
Salaries and Benefits |
$3,643,352 |
$3,252,074 |
% of Total Expenditures |
71.04% |
69.36% |
Purchased Services |
$682,869 |
$799,834 |
% of Total Expenditures |
13.32% |
17.06% |
All Other Expenditures |
$802,075 |
$636,613 |
% of Total Expenditures |
15.64% |
13.58% |
|
|
|
TOTAL NET ASSETS |
$444,431 |
$386,033 |
|
|
|
INVESTMENT IN
CAPITAL ASSETS |
$60,283 |
$62,939 |
|
||
Percentages may not add due to rounding. |
REGIONAL
SUPERINTENDENT |
During Audit Period: Honorable Thomas J. Centowski Currently: Honorable Paul Nordstrom |