REPORT DIGEST

ILLINOIS STATE BOARD OF INVESTMENT

COMPLIANCE EXAMINATION
FOR THE TWO YEARS ENDED JUNE 30, 2025

Release Date:  July 14, 2026

FINDINGS THIS AUDIT: 1
FINDINGS LAST AUDIT: 4

State of Illinois, Office of the Auditor
General
CHRISTOPHER B. MEISTER, AUDITOR GENERAL

To obtain a copy of the Report contact:
Office of the Auditor General, 400 West
Monroe, Suite 306, Springfield, IL
62704-9849
(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 the State compliance
examination of the Illinois State Board of
Investment (ISBI) for the two years ended
June 30, 2025. A digest covering ISBI’s
financial audit as of and for the year
ended June 30, 2025, was previously
released on March 26, 2026. In total, this
report contains one finding, which was
also reported in the financial audit
report.

AUDITOR’S OPINION

The financial audit report was previously
released. The auditors stated the
financial statements of ISBI as of and for
the year ended June 30, 2025, are fairly
stated in all material respects.

ACCOUNTANT’S OPINION

The accountants conducted a State
compliance examination of ISBI for the two
years ended June 30, 2025, as required by
the Illinois State Auditing Act.  The
accountants qualified their report on
State compliance for Finding 2025-001.
Except for the noncompliance described in
this finding, the accountants stated ISBI
complied, in all material respects, with
the requirements described in the report.

This State compliance examination was
conducted by RSM US LLP.

COURTNEY DZIERWA
Deputy Auditor General

This report is transmitted in accordance
with Section 3-14 of the Illinois State
Auditing Act.

CHRISTOPHER B. MEISTER
Auditor General

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