REPORT DIGEST REGIONAL OFFICE OF EDUCATION #54
FINANCIAL AUDIT For the Year Ended: June 30, 2008 Summary of Findings: Total this audit 0 Total last audit 1 Repeated from last audit 0 Relea June 11, 2009
State of Il Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
To obtain a copy of the
Report contact: Office of the Auditor
General
(217) 782-6046 or TTY (888)
261-2887 This Report Digest and Full
Report is also available on the worldwide web at http://www.auditor.illinois.gov |
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INTRODUCTION Our
report covers the financial audit for the period ending June 30, 2008. AUDITORS’
OPINION Our auditors state the Regional Office of Education #54’s financial statements as of June 30, 2008 are fairly presented in all material respects. _____________________________________ WILLIAM
G. HOLLAND, Auditor General WGH:KJM SPECIAL ASSISTANT
AUDITORS Our special assistant
auditors were West & Company, LLC.
{Expenditures
and Revenues are summarized on the reverse page.} |
REGIONAL OFFICE OF
EDUCATION # 54
FINANCIAL AUDIT
For The Year Ended June
30, 2008
|
FY 2008
|
FY 2007
|
TOTAL REVENUES |
$683,667 |
$606,071 |
Local Sources |
$147,330 |
$141,218 |
% of Total Revenues |
21.55% |
23.30% |
State Sources |
$509,214 |
$440,322 |
% of Total Revenues |
74.48% |
72.65% |
Federal Sources |
$27,123 |
$24,531 |
% of Total Revenues |
3.97% |
4.05% |
|
||
TOTAL EXPENDITURES |
$688,748 |
$622,095 |
Salaries and Benefits |
$307,931 |
$270,138 |
% of Total Expenditures |
44.71% |
43.42% |
Purchased Services |
$61,147 |
$57,180 |
% of Total Expenditures |
8.88% |
9.19% |
All Other Expenditures |
$319,670 |
$294,777 |
% of Total Expenditures |
46.41% |
47.38% |
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TOTAL NET ASSETS |
$117,373 |
$122,454 |
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INVESTMENT IN
CAPITAL ASSETS |
$1,004 |
$0 |
Percentages
may not add due to rounding. |
REGIONAL
SUPERINTENDENT |
During Audit Period: Honorable Michael Metzen Currently: Honorable Michael Metzen |