REPORT DIGEST

RAILSPLITTER TOBACCO SETTLEMENT AUTHORITY

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION
For the Two Years Ended June 30, 2014

Release Date:  February 5, 2015

FINDINGS THIS AUDIT:  0
FINDINGS LAST AUDIT: 0

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
www.auditor.illinois.gov

INTRODUCTION

The Railsplitter Tobacco Settlement Authority
(Authority) was established on July 1, 2010 as
a special purpose corporation to sell revenue
bonds, repayment of which is supported solely
by future tobacco settlement revenues (TSRs)
(pledged revenues).  The Authority received no
appropriations from the Illinois General
Assembly, and funds were not held in the State
Treasury.

There were no material findings of
noncompliance disclosed during our
examination.

AUDITORS' OPINION

We conducted a financial audit and compliance
examination of the Authority as required by
the Illinois State Auditing Act.  Our auditors
stated that the Authority’s financial
statements as of and for the years ended June
30, 2013 and June 30, 2014 are fairly stated
in all material respects.

WILLIAM G. HOLLAND
Auditor General

WGH:CD

AUDITORS ASSIGNED

This audit was performed by the Office of the
Auditor General’s staff.