REPORT DIGEST

THE SOUTHERN ILLINOIS UNIVERSITY RESEARCH PARK, INC. (CARBONDALE)

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

Release Date:

 February 8, 2007

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 and the Full Report are 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, 2006.  A compliance examination covering the two years ended June 30, 2007 will be issued at a later date.

AUDITORS’ OPINION

      Our auditors stated the June 30, 2006 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

      Crowe Chizek & Co., LLC were our special assistant auditors for this audit.

FINANCIAL OPERATIONS (All Funds)

FY 2006

FY 2005

REVENUES

      Operating revenues..............................................

$111,353

$32,319

EXPENSES

      Operating expenses..............................................

$123,239

$57,705

            Operating income (loss)..................................

($11,886)  

($25,386)

NONOPERATING REVENUES (EXPENSES)

Interest Income..........................................................

$1,169

$576

Grant Income.............................................................

$212,326

$80,956

      Net non-operating revenues..................................

$213,495

$81,532

Increase in net assets..................................................

$201,609

$56,146

NET ASSETS

Net Assets – beginning of year...................................

$158,620

$102,474

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

$360,229

$158,620

OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30,

2006

AT JUNE 30, 2005

Cash and Investments..................................................

Leasehold Improvements.............................................

Total Assets.............................................................

Due to SIU.................................................................

Accounts Payable.......................................................

Total Liabilities........................................................

Net Assets – Invested in capital assets.........................

Net Assets – Restricted...............................................

Net Assets – Unrestricted...........................................

Total Net Assets......................................................

$60,358

$278,618

$401,406

$31,940

$9,237

$41,177

$278,618

$0

$81,611

$360,229

$73,272

$80,956

$219,843

$0

$61,223

$61,223

$80,956

$3,000

$74,664

$158,620

EXECUTIVE DIRECTOR

During the audit:  Mr. Raymond Lenzi

Currently:  Mr. Kyle Harfst (Acting)