REPORT DIGEST

ILLINOIS STATE BOARD OF INVESTMENT
COMPLIANCE AUDIT

For the Year Ended:
June 30, 2002

Summary of Findings:

Total this audit 0
Total last audit 0
Repeated from last audit 0

Release Date:
March 4, 2003

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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
Attn: Records Manager
Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703

(217)782-6046 or TDD (217) 524-4646

This Report Digest is also available on
the worldwide web at
http://www.state.il.us/auditor

  

 

 

 

 

INTRODUCTION

This digest covers our compliance audit of the Board for the year ended June 30, 2002. A financial audit covering the year ending June 30, 2002 was issued separately. There were no material findings of noncompliance disclosed during our audit tests. We commend the Board for maintaining effective fiscal controls.

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:TLK:pp

SPECIAL ASSISTANT AUDITORS

KPMG, LLP were our special assistant auditors for this audit.

{Financial Information is summarized on the reverse page.}

 

 

ILLINOIS STATE BOARD OF INVESTMENT
INFORMATION FROM FINANCIAL AND COMPLIANCE AUDITS
YEAR ENDED JUNE 30, 2002

FINANCIAL STATEMENT ANALYSIS

FY 2002

FY 2001
Revenues:
Investment Income - Interest
Investment Income - Dividends
Investment Income - Securities Lending
Total Investment Income
Expenses:
Operating Expenses
Net Investment Income
Realized Gain (Loss) on Investments
Unrealized (Loss) on Investments
Change in Investments
Member Systems’ Withdrawals
Net Assets, at Beginning of Year
Net Assets, at End of Year


$ 165,057,208
48,392,308
2,279,015
$ 215,728,531
18,604,615

$ 197,123,916
(209,162,950)
(565,864,432)
$ (577,903,466)
(71,850,000)
8,578,081,967
$7,928,328,501


$ 191,525,567
52,761,122
3,607,963
$ 247,894,652
20,598,995

$ 227,295,657
297,832,749
(1,177,475,837)
$ (652,347,431)
(39,900,000)
9,270,329,398
$8,578,081,967
INVESTMENT PORTFOLIO ANALYSIS – Fair Value

JUNE 30, 2002

JUNE 30, 2001
Total Government Obligations
Total Corporate Obligations
Foreign Obligations
Convertible Bonds
Common Stock & Equities
Convertible Preferred Stock
Preferred Stock
Foreign Equity Securities
Real Estate Investments
Alternative Investments
Money Market Investments
Forward Foreign Currency Contracts
Total Investment Portfolio

$1,057,628,472
807,243,888
84,261,722
159,060
3,573,004,993
75,520
8,051
1,231,600,202
417,054,183
414,830,358
345,095,683
511,922 $7,931,474,054

$1,134,638,341
799,240,560
108,110,344
55,706
3,777,918,575
3,375,353
5,742,468
1,594,371,444
349,790,999
494,792,298
345,601,984
(52,875) $8,613,585,197
OPERATING EXPENSES

FY 2002

FY 2001
Salaries
Benefits
Rent and Utilities
Audit
Other
External Support:
Custody
Consulting and Professional
Investment Advisors/Managers
Investment Services and Research
Total Operating Expenses

$1,162,229
325,957
127,535
90,010
118,688

358,068
357,771
15,888,360
175,997
$18,604,615

$1,179,201
310,946
141,212
101,600
140,286

356,068
533,682
17,645,753
190,247
$20,598,995
SUPPLEMENTARY INFORMATION

FY 2002

FY 2001
Compounded Annual Rate of Return, Since July 1, 1982
Total Time Weighted Return on Investments
Average Number of System Employees
Total Brokerage Commissions Paid

11.1%
(6.9)%
12
$4,381,910

12.1%
(7.1)%
12
$4,650,839
EXECUTIVE DIRECTOR
During Audit Period: Jane R. Patterson
Currently: Jane R. Patterson