REPORT DIGEST
PUBLIC SCHOOL TEACHERS’ PENSION AND RETIREMENT FUND OF CHICAGO
SPECIAL LIMITED COMPLIANCE AUDIT TESTING OF STATE APPROPRIATIONS
For the Two Years Ended:
June 30, 1999
Summary of Findings:
Total this audit 0
Total last audit 0
Repeated from last audit 0
Release Date:
April 12, 2000
State of Illinois
Office of the Auditor General
WILLIAM G. HOLLAND
AUDITOR GENERAL
Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703
(217) 782-6046
INTRODUCTION
The Illinois General Assembly makes direct appropriations annually to the Public School Teachers’ Pension and Retirement Fund of Chicago (Fund) from the General Revenue Fund for supplemental payments to retired teachers under provisions set forth in Article 17 of the State Pension Code. For Fiscal Year 1998 the appropriation was $50,000, and for Fiscal Year 1999 the appropriation was $50,000.
During Fiscal Year 1998, the Fund also received State funding through the Illinois State Board of Education (Board). Pursuant to Public Act 90-548, these expenditures were audited during our regular audits of the Board. However, during Fiscal Year 1999, this State funding was directly received by the Fund and was included within the scope of this audit. For Fiscal Year 1999, the appropriation was $65,044,700.
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 for this audit or the prior audit.
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WILLIAM G. HOLLAND, Auditor General
WGH:GSS
AUDITORS ASSIGNED
This audit testing was performed by staff of the Office of the Auditor General.