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

 

 

To obtain a copy of the Report contact:

Office of the Auditor General

Iles Park Plaza

740 E. Ash Street

Springfield, IL 62703

782-6046 or TTY (888) 261-2887

 

This Report Digest is also available on

the worldwide web at

http://www.state.il.us/auditor

 

 

 

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

 

 

 

Net Assets – end of year............................................

$102,474

$109,868

 

 

 

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

 

During the audit:  Mr. Raymond Lenzi

Currently:  Mr. Raymond Lenzi