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REPORT
DIGEST UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION FINANCIAL AUDIT For the Year Ended: June 30, 2007 Release Date: October 25, 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 |
AUDITORS’ OPINION Our auditors stated the Alumni Association’s June 30, 2007 financial statements are fairly presented in all material respects. ____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:TLK:pp SPECIAL ASSISTANT AUDITORS Our special assistant auditors were Clifton Gunderson LLP. |
UNIVERSITY OF ILLINOIS ALUMNI
ASSOCIATION
FINANCIAL AUDIT
For The Year Ended June 30, 2007
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FINANCIAL
OPERATIONS (All Funds) |
FY 2007 |
FY 2006 |
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OPERATING REVENUES................................................. OPERATING EXPENSES................................................... Operating income.............................................................. NONOPERATING REVENUES (EXPENSES) Investment income............................................................. Interest expense................................................................. Contributions received....................................................... Contributions..................................................................... Net increase in fair value of investments.............................. Net nonoperating revenues (expenses)......................... Increase (decrease) in net assets.................................. NET ASSETS, beginning of year......................................... NET ASSETS, end of year................................................... |
$10,463,700 9,690,900 $772,800 $336,300 (216,100) 722,900 (684,900) 2,490,300 $2,648,500 $3,421,300 $10,894,500 $14,315,800 |
$9,112,700 8,727,000 $385,700 $316,700 (69,500) 0 (6,949,600) 1,141,400 $(5,561,000) ($5,175,300) $16,069,800 $10,894,500 |
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OTHER SIGNIFICANT ACCOUNT BALANCES |
At June 30, 2007 |
At June 30, 2006 |
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Cash and Investments.............................................................. Total Assets.......................................................................... Credit Line – University of Illinois............................................. Deferred Revenues.................................................................. Total Liabilities..................................................................... Total Net Assets................................................................... |
$17,251,200 18,713,700 3,842,600 49,500 4,397,900 $14,315,800 |
$16,170,200 17,244,600 5,111,300 769,800 6,350,100 $10,894,500 |
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ALUMNI ASSOCIATION PRESIDENT |
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Currently: Mr. Loren R. Taylor |
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