REPORT DIGEST

REPORT DIGEST

WESTERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT

For the Year Ended

June 30, 2008

Release Date:

February 19, 2009

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 the Full Report are also available on

the worldwide web at

www.auditor.illinois.gov

AUDITORS' OPINION

Our auditors state the financial statements of Western Illinois University as of June 30, 2008, and for the year then ended, are fairly presented in all material respects.

___________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:CML:pp

SPECIAL ASSISTANT AUDITORS

E.C. Ortiz & Co., LLP were our special assistant auditors.

{Financial Information is summarized on the reverse page.}

WESTERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT

For the Year Ended June 30, 2008

FINANCIAL OPERATIONS	FY 2008	FY 2007
OPERATING REVENUES Tuition and fees, net.......................................................... Auxiliary enterprises, net................................................... Grants and contracts.......................................................... Other..................................................................................... Total Operating Revenues........................................ OPERATING EXPENSES Instruction........................................................................... Research............................................................................... Public service...................................................................... Academic support.............................................................. Student services................................................................. Institutional support.......................................................... Operation and maintenance of plant................................ Student aid........................................................................... Auxiliary enterprises.......................................................... Depreciation........................................................................ On-behalf payments........................................................... Other..................................................................................... Total Operating Expenses......................................... Operating Income (Loss)........................................................... NONOPERATING REVENUES (EXPENSES) State appropriations........................................................... Capital appropriations........................................................ Gifts....................................................................................... Interest on capital assets - related debt.......................... Investment income............................................................. Other net.............................................................................. INCREASE IN NET ASSETS................................................... Net assets, beginning of year................................................... Net assets, end of year..............................................................	$68,440,030 50,936,746 19,981,340 7,949,385 $147,307,501 $57,646,549 2,965,570 10,320,311 16,386,681 19,871,281 12,600,302 15,969,509 5,693,687 43,242,917 9,961,891 35,394,969 7,012,690 $237,066,357 $(89,758,856) $93,692,465 1,118,833 573,221 (2,071,868) 2,700,753 (28,583) $6,225,965 $112,988,374 $119,214,339	$63,194,327 49,335,561 20,130,041 7,882,470 $140,542,399 $52,589,250 3,103,945 11,033,770 17,620,763 18,635,960 12,352,845 14,324,253 5,720,519 41,457,129 9,989,358 30,855,587 6,898,313 $224,581,692 $(84,039,293) $88,078,972 2,417,967 309,244 (2,629,802) 3,960,265 (25,369) $8,071,984 $104,916,390 $112,988,374
SELECTED ACCOUNT BALANCES	June 30, 2008	June 30, 2007
Cash and Investments............................................................... Capital Assets, net of accumulated depreciation.................. Accrued Compensated Absences........................................... Revenue Bonds Payable............................................................	$58,584,396 $146,357,402 $16,546,466 $43,256,011	$60,802,206 $135,028,693 $16,897,657 $46,466,197
UNIVERSITY PRESIDENT
During Audit Period: Dr. Alvin Goldfarb Currently: Dr. Alvin Goldfarb