REPORT DIGEST

SPECIAL LIMITED COMPLIANCE EXAMINATION TESTING OF STATE APPROPRIATIONS TO THE PUBLIC SCHOOL TEACHERS’ PENSION AND RETIREMENT FUND OF CHICAGO

COMPLIANCE EXAMINATION

For the Two Years Ended: June 30, 2009

Summary of Findings:

Total this audit: 0

Total last audit: 0

Repeated from last audit: 0

Release Date: May 25, 2010

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

The Illinois General Assembly makes direct appropriations annually to the Public School Teachers’ Pension and Retirement Fund of Chicago (Fund) for payments to retired teachers. The appropriations and expenditures from the General Revenue Fund totaled $10,218,000 in Fiscal Year 2008 and $9,800,000 in Fiscal Year 2009. The appropriations and expenditures from the Education Assistance Fund totaled $65,044,700 in Fiscal Year 2008 and Fiscal Year 2009.

Our special compliance testing was limited to these State appropriations made directly to the Fund.

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

There were no material findings of noncompliance disclosed during our limited compliance testing.

WILLIAM G. HOLLAND, Auditor General

WGH:PH

AUDITORS ASSIGNED

The Auditor General’s staff conducted this examination.