REPORT DIGEST

DEPARTMENT OF CENTRAL MANAGEMENT SERVICES

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2003

 

Release Date:

March 2, 2004

 

 

 

 

 

 

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 TDD (217) 524-4646

 

 

This Report Digest is also available on

the worldwide web at

http://www.state.il.us/auditor

 

INTRODUCTION

This digest covers our financial audit of the Department of Central Management Services for the year ended June 30, 2003. A compliance audit of the Department is scheduled to be performed for the two-year period ending June 30, 2004.

FUND DEFICITS

The Departmentís financial statements and related note disclosures reflect a fund deficit at June 30, 2003 for the General Revenue Fund. This deficit fund balance of $111,598,000 resulted from recognition of liabilities to the Health Insurance Reserve Fund for benefit claims and other operating expenses in excess of accrued revenues.

 

AUDITORSí OPINION

Our auditors stated the Departmentís financial statements as of June 30, 2003 and for the year then ended are fairly presented in all material respects.

 

___________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Sikich Gardner & Co. LLP were our special assistant auditors for this audit.

 

                                STATE OF ILLINOIS

DEPARTMENT OF CENTRAL MANAGEMENT SERVICES

 

                                FINANCIAL AUDIT

                      For The Year Ended June 30, 2003

 

STATEMENT OF ACTIVITES INFORMATION

Governmental Activities

Business-Type Activities

PROGRAM REVENUES

     Charges for Services

 

EXPENSES

     General Government

     Health and Social Services

     Interest

     Other

     Total Expenses

 

NET (EXPENSE) REVENUES AND CHANGES IN NET ASSETS

 

Total General Revenues and transfers

 

CHANGE IN NET ASSETS

Lapsed Appropriations

Net Assets July 1, 2002, as restated

NET ASSETS, JUNE 30, 2003

$1,385,784

 

 

 

$2,422,264

779

1,500

0

$2,424,543

 

 

$(1,038,759)

 

$1,004,683

 

$(34,076)

(3,657)

217,295

$179,562

$316,796

 

 

 

$0

0

0

294,711

$294,711

 

 

$22,085

 

$6,009

 

$28,094

0

6,025

$34,119

STATEMENT OF NET ASSETS INFORMATION

Governmental Activities

Business-Type Activities

Cash and cash equivalents

$240,387

$70,689

Investments

$3,993

$0

Capital Assets, net

$266,230

$0

Other Assets

$92,721

$8,203

Total Assets

$603,331

$78,892

Accounts Payable

$313,003

$44,632

Long Term Obligations

$96,009

$99

Other Liabilities

$14,757

$42

Total Liabilities

$423,769

$44,773

Net Assets, invested in capital assets, net of debt

$233,224

$0

Net Assets, restricted

$34,252

$0

Net Assets, unrestricted

$(87,914)

$34,119

Total Net Assets

$179,562

$34,119

EXECUTIVE DIRECTOR

 

 

During Audit Period: Mr. Michael S. Schwartz (7-1-02 thru 9-30-02), Mr. Stephen Schnorf (10-1-02 thru 12-26-02), Ms. Nancy White (Acting - 12-27-02 thru 1-16-03), Mr. Michael M. Rumman (1-17-03 to present)

Currently: Mr. Michael M. Rumman