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REPORT DIGEST OFFICE OF THE STATE TREASURER THE ILLINOIS FUNDS FINANCIAL AUDIT For the Year Ended: June 30, 2006 Release Date:
December 12, 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 The Illinois Funds was established under the name Illinois Public Treasurers' Investment Pool ("IPTIP") in 1976 to supplement and enhance the investment opportunities available to custodians of public agency funds throughout the State of Illinois. The management, custodianship and operation of The Illinois Funds are under the supervision of the Office of the Treasurer - State of Illinois. To administer The Illinois Funds, the Treasurer has established a division entitled "The Illinois Funds Administrative Office". The revenues and expenditures of the Division were recorded in a fund maintained by the Treasurer entitled The Illinois Funds Administrative Trust Fund. An investment trust fund was used to account for assets held by The Illinois Funds in a trustee capacity for public treasurers throughout the State of Illinois. At June 30, 2006, assets in this fund totaled $5,715,253,363. The custodian for this fund was U.S. Bank of Illinois. AUDITORS' OPINION Our special assistant auditors stated that The Illinois Funds financial statements, as of and for the year ended June 30, 2006, are fairly stated in all material respects. ___________________________________ WILLIAM
G. HOLLAND, Auditor General WGH:JSC:pp
SPECIAL ASSISTANT AUDITORS
Our special assistant auditors on this audit were Crowe Chizek and Company LLC.
{Expenditures
and Activity Measures are summarized on the reverse page.} |
