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REPORT DIGEST COMPLIANCE
EXAMINATION For the Two Years Ended: June 30, 2008 Summary of Findings: Total this audit 0 Total last audit 2 Repeated from last audit 0 Rele January 22,
State of Il Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
To obtain a copy of the
Report contact: Office of the Auditor
General
(217) 782-6046 or TTY (888)
261-2887 This Report Digest and Full
Report are also available on the worldwide web at
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FINDINGS, CONCLUSIONS, AND
RECOMMENDATIONS There were no material findings of noncompliance disclosed during our compliance examination. AUDITORS’ OPINION Our financial
statement audit for the year ended June 30, 2008 was previously issued. Our auditors stated the Alumni
Association’s June 30, 2008 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. {Expenditures and Activity
Measures are summarized on the reverse page.} |
COMPLIANCE EXAMINATION
For The Years Ended June 30,
2008
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FINANCIAL
OPERATIONS (All Funds) |
FY 2008 |
FY 2007 |
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OPERATING REVENUES................................................. OPERATING EXPENSES................................................... Operating income.............................................................. NONOPERATING REVENUES (EXPENSES) Investment income............................................................. Contributions..................................................................... Contributions received....................................................... Interest expense................................................................. Net increase (decrease) in fair value of investments............. Net nonoperating revenues (expenses)......................... Increase in net assets................................................... NET ASSETS, beginning of year......................................... NET ASSETS, end of year................................................... |
$11,800,700 $10,364,500 $1,436,200 $385,000 $(334,100) $483,200 $(148,300) ($1,473,000) $(1,087,200) $349,000 $14,315,800 $14,664,800 |
$10,463,700 $9,690,900 $772,800 $336,300 $(684,900) $722,900 ($216,100) $2,490,300 $2,648,500 $3,421,300 $10,894,500 $14,315,800 |
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OTHER SIGNIFICANT ACCOUNT BALANCES |
At June 30, 2008 |
At June 30, 2007 |
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Cash and Cash Equivalents...................................................... Investments............................................................................. Accounts Receivable............................................................... Property and Equipment.......................................................... Total Net Assets................................................................... |
$1,462,300 $14,879,800 $474,800 $722,900 $14,664,800 |
$691,200 $16,560,000 $350,900 $749,500 $14,315,800 |
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ALUMNI ASSOCIATION PRESIDENT |
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During Audit Period: Mr. Loren R. Taylor Currently: Mr. Loren R. Taylor |
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