|
REPORT
DIGEST ILLINOIS STATE TOLL HIGHWAY
AUTHORITY FINANCIAL AUDIT For the Year Ended: December 31, 2005 Release Date: October 26,
2006
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 Tollway for the year ended December 31,
2005. A compliance
examination covering the year ending December 31, 2005 is being issued
separately.
AUDITORS'
OPINION
Our
auditors state the December 31, 2005 financial statements of the Tollway
are fairly presented.
____________________________________
WILLIAM G.
HOLLAND, Auditor General
WGH:TLK:pp SPECIAL ASSISTANT AUDITORS Our special assistant auditors for this audit were McGladrey & Pullen LLP. |
ILLINOIS STATE TOLL HIGHWAY
AUTHORITY
FINANCIAL AUDIT
For The Years Ended December 31, 2005 and
2004
|
FINANCIAL
OPERATIONS (GAAP BASIS) |
2005 |
2004 |
|
Operating
Revenue Toll Revenue.................................................. Toll Evasion Recovery.................................... Concessions................................................... Miscellaneous................................................ Total Operating Revenue..............................
Operating
Expenses Depreciation and Amortization....................... Services and Toll Collection........................... Insurance and Employee Benefits.................. Engineering and Maint. of Roadway & Structures Traffic Control, Safety Patrol, & Radio Commun. Procurement, IT, Finance & Administration..... Total Operating Expenses.............................. |
$580,441,697 26,737,437 2,790,847
2,266,957 $612,236,938
$152,195,010 96,196,860 44,659,657 34,886,799 18,034,485 22,018,346 $367,991,157 |
$391,586,232 21,034,678 2,654,668
3,445,212 $418,720,790
$165,623,349 83,913,805 47,756,919 32,579,707 15,340,985 20,933,265 $366,148,030 |
|
SIGNIFICANT
ACCOUNT BALANCES |
2005 |
2004 |
|
Cash & Cash Equivalents (Unrestricted)......... Cash & Cash Equivalents Restricted for Debt Svc. Cash & Cash Equivalents – IPASS Accounts.. Cash & Cash Equivalents – Construction......... Accounts Receivable (net).............................. Investments Restricted for Debt Service.......... Capital Assets (net)........................................ Revenue Bonds Payable................................. |
$425,153,914 114,014,999 96,320,201 573,019,093 38,444,129 88,496,433 2,262,248,823 1,473,114,718 |
$366,674,672 59,151,196 71,110,876
0 31,738,214 29,571,262 1,805,709,188 656,974,338 |
EXECUTIVE DIRECTOR |
|
During Audit Period: Mr. Jack Hartman –
Through February 23, 2006 Acting Executive Director: Ms. Marilyn
Johnson – February 24, 2006 through March 29, 2006 Currently: Acting Executive Director – Mr.
Brian McPartlin - March 30, 2006 to
Present |