REPORT DIGEST ILLINOIS STATE BOARD OF INVESTMENT Compliance Examination For the Year Ended June 30, 2015 Release Date: February 4, 2016 FINDINGS THIS AUDIT: 1 FINDINGS LAST AUDIT: 0 Category 1: Findings that are material weaknesses in internal control and/or a qualification on compliance with State laws and regulations (material noncompliance). Category 2: Findings that are significant deficiencies in internal control and noncompliance with State laws and regulations. Category 3: Findings that have no internal control issues but are in noncompliance with State laws and regulations. State of Illinois, Office of the Auditor General FRANK J. MAUTINO, 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 This digest covers our Compliance Examination of the Illinois State Board of Investment for the year ended June 30, 2015. A separate Financial Audit as of and for the year ending June 30, 2015 was previously released on December 23, 2015. The Financial Audit report contained one finding relating to Inadequate Controls Over Financial Close and Reporting. ACCOUNTANT’S OPINION The auditors conducted a State compliance examination of the Illinois State Board of Investment for the year ended June 30, 2015, as required by the Illinois State Auditing Act. The accountant’s report does not contain any scope limitations, disclaimers or other non-standard language. FRANK J. MAUTINO Auditor General FJM:TLK SPECIAL ASSISTANT AUDITORS Our Special Assistant Auditors for this examination were RSM US LLP.