REPORT DIGEST THE SOUTHERN ILLINOIS
UNIVERSITY RESEARCH PARK, INC. (CARBONDALE) FINANCIAL AUDIT For the Year Ended: June 30, 2004 Release Date: March 16, 2005 State of Illinois Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
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INTRODUCTION This digest covers our financial audit of the Research Park, Inc. for the year ended June 30, 2004. A compliance examination covering the two years ended June 30, 2005 will be issued at a later date. AUDITORS’ OPINION Our auditors stated the June 30, 2004 financial statements of the Research Park, Inc. are fairly presented in all material respects. ____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:KAL :pp SPECIAL ASSISTANT AUDITORS Kerber, Eck & Braeckel LLP were our special assistant auditors for this audit. |
SOUTHERN ILLINOIS UNIVERSITY RESEARCH PARK, INC. (CARBONDALE)
FINANCIAL AUDIT
For The Year Ended June 30, 2004
FINANCIAL
OPERATIONS (All Funds) |
FY 2004 |
FY 2003 |
REVENUES |
|
|
Operating revenues.............................................. |
$149,769 |
$30,000 |
|
|
|
EXPENSES |
|
|
Operating expenses.............................................. |
$158,032 |
$3,554 |
|
|
|
Operating income (loss).................................. |
($8,263) |
$26,446 |
|
|
|
NONOPERATING REVENUES (EXPENSES) |
|
|
Interest Income.......................................................... |
$869 |
$1,122 |
Net nonoperating revenues................................... |
$869 |
$1,122 |
|
|
|
Increase in net assets.................................................. |
($7,394) |
$27,568 |
|
|
|
NET ASSETS |
|
|
Net Assets – beginning of year................................... |
$109,868 |
$82,300 |
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|
|
Net Assets – end of year............................................ |
$102,474 |
$109,868 |
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|
|
OTHER SIGNIFICANT
ACCOUNT BALANCES |
AT JUNE 30, 2004 |
AT JUNE 30, 2003 |
Cash and Investments.................................................. Total Assets............................................................. Accounts Payable....................................................... Total Liabilities........................................................ Net Assets – Invested in capital assets......................... Net Assets – Restricted............................................... Net Assets – Unrestricted........................................... Total Net Assets...................................................... |
$81,092 $109,481 $7,007 $7,007 $0 $3,000 $99,474 $102,474 |
$110,993 $125,852 $15,984 $15,984 $14,859 $3,000 $92,009 $109,868 |
EXECUTIVE DIRECTOR |
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During the audit: Mr. Raymond Lenzi Currently: Mr. Raymond Lenzi |