REPORT DIGEST

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

(217) 782-6046 or TTY (888) 261-2887

This Report Digest and 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 Association of Alumni, Former Students and Friends of Southern Illinois University (Carbondale) for the year ended June 30, 2006.  A compliance audit 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 Alumni Association are fairly presented in all material respects.

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KAL:pp

SPECIAL ASSISTANT AUDITORS

      Crowe Chizek and Company, LLC were our special assistant auditors for this audit.

FINANCIAL OPERATIONS (All Funds)

FY 2006

FY 2005

REVENUES

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

EXPENSES

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

            Operating Revenue in excess of expenses.......

NON-OPERATING REVENUES

      Investment gain, dividends and interest..................

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

            Net Non-operating Revenues.........................

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

NET ASSETS

      Net Assets-beginning of year

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

$1,969,982

1,723,804

$246,178

$368,450

14,682

$383,132

$629,310

2,892,795

$3,522,105

$1,804,312

1,639,518

$164,794

$304,815

9,040

$313,855

$478,649

2,414,146

$2,892,795

OTHER SIGNIFICANT ACCOUNT BALANCES

At June 30, 2006

At June 30, 2005

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

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

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

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

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

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

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

$5,483,507

$5,571,891

$1,950,720

$2,049,786

$3,804

$3,518,301

$3,522,105

$4,792,379

$4,855,830

$1,877,057

$1,963,035

$4,788

$2,888,007

$2,892,795

ALUMNI ASSOCIATION DIRECTOR

During Audit Period:  Mr. Edward Buerger

Currently:  Mr. Edward Buerger