REPORT DIGEST

THE ASSOCIATION OF ALUMNI, FORMER STUDENTS AND FRIENDS OF SOUTHERN ILLINOIS UNIVERSITY (CARBONDALE)

FINANCIAL AUDIT

For the Year Ended:

June 30, 2004

Release Date:

January 27, 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

(217) 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 Association of Alumni, Former Students and Friends of Southern Illinois University (Carbondale) for the year ended June 30, 2004.  A compliance audit 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 Alumni Association 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.

FINANCIAL OPERATIONS (All Funds)

FY 2004

FY 2003

REVENUES

      Operating Revenues.............................................

EXPENSES

      Operating Expenses.............................................

            Operating Income .........................................

NONOPERATING REVENUES (EXPENSES)

      Investment gain....................................................

      Contributions.......................................................

            Net Nonoperating Revenues/(Expenses).........

            Increase in Net Assets....................................

NET ASSETS

      Net Assets-beginning of year, as originally reported

      Cumulative effect of change in accounting method

      Net Assets-beginning of year, as restated..............

      Net Assets-end of year........................................

$1,417,626

$1,254,713

$162,913

$394,327

$10,616

$404,943

$567,856

$1,846,290

$0

$1,846,290

$2,414,146

$1,313,167

$1,115,079

$198,088

$111,288

$2,694

$113,982

$312,070

$2,463,399

 $(929,179)

$1,534,220

$1,846,290

OTHER SIGNIFICANT ACCOUNT BALANCES

At June 30, 2004

At June 30, 2003

Cash and investments.................................................

Total assets.............................................................

Deferred Revenue......................................................

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

Net Assets-Invested in capital assets..........................

Net Assets-Unrestricted.............................................

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

$3,942,593

$3,988,414

$1,475,100

$1,574,268

$3,711

$2,410,435

$2,414,146

$3,385,590

$3,439,359

$1,516,992

$1,593,069

$5,657

$1,840,633

$1,846,290

 ALUMNI ASSOCIATION DIRECTOR

During Audit Period: Mr. Edward Buerger

Currently:  Mr. Edward Buerger