REPORT DIGEST
OFFICE OF THE
STATE TREASURER
THE ILLINOIS FUNDS
FINANCIAL AUDIT
For the Year Ended:
June 30, 1999
Release Date:
February 9, 2000
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
Attn: Records Manager
Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703
(217) 782-6046 or TDD (217) 524-4646
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 Investment Division". The revenues and expenditures of the Division were recorded in a fund maintained by the Treasurer entitled The Illinois Funds Administrative Fund.
An agency 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, 1999, assets in this fund totaled $3,273,295,655. The custodian for this fund was Mercantile Bank of Illinois in Springfield, Illinois.
AUDITORS' OPINION
Our special assistant auditors stated that The Illinois Funds’ June 30, 1999 financial statements are presented fairly.
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WILLIAM G. HOLLAND, Auditor General
WGH:RPU:pp
SPECIAL ASSISTANT AUDITORS
The public accounting firm of Kerber, Eck & Braeckel LLP were our special assistant auditors on this audit.
{Expenditures and Activity Measures are summarized on the reverse page.}