REPORT DIGEST

 

 

CAPITAL DEVELOPMENT BOARD

 

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2003

 

 

 

Release Date:

February 18, 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

 

We performed a financial audit of the Capital Development Board for the year ended June 30, 2003. A two-year compliance audit and a one-year financial will be performed for the period ended June 30, 2004.

 

AUDITORS' OPINION

Our auditors stated the financial statements of the Capital Development Board for the year ended June 30, 2003 were fairly presented in all material respects.

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:LKW:pp

 

SPECIAL ASSISTANT AUDITORS

Clifton Gunderson LLP were our special assistant auditors for this engagement.

 

 

(Selected financial information is summarized on the reverse page.}

 

                                            CAPITAL DEVELOPMENT BOARD

                                                        FINANCIAL AUDIT

                                              For the Period Ended June 30, 2003

 

 

FINANCIAL INFORMATION (In thousands)

FY 2003

FY 2002

PROGRAM REVENUES

     Education Charges for services

     General government Charges for services

          Total revenue

EXPENDITURES

     Education

     General government

     Debt service interest

          Total expenditures

GENERAL REVENUES

     Appropriation from State resources

     Reappropriations to future year(s)

     Net change in liabilities for reappropriated accounts

TRANSFERS

     Receipts remitted to State Treasurer

     Capital transfers to other State agencies

     Operating transfers to other State agencies

          Total general revenues and transfers

NET ASSETS

     Change in net assets

     Lapsed appropriations

     Net assets, July 1

     Cumulative effect of change in accounting principle

          Net assets, June 30

 

$24,000

26,341

$50,341

 

$(810,889)

(39,007)

(35)

$(849,931)

 

$3,138,974

(2,024,175)

41,472

 

(61)

(364,391)

(7,288)

$784,531

 

$(15,059)

(105,658)

241,707

0

$120,990

 

$20,036

48,142

$68,178

 

$(806,800)

(52,404)

(50)

$(859,254)

 

$3,408,983

(2,236,666)

(30,717)

 

(90)

(301,509)

(107)

$839,894

 

$48,818

(84,474)

281,233

(3,870)

$241,707

SELECTED ACCOUNT BALANCES (In thousands)

FY 2003

FY 2002

Cash and cash equivalents

Intergovernmental receivables

Other receivables

Capital assets not being depreciated

Accounts payable and accrued liabilities

Intergovernmental payables

Deferred revenue

Net assets, invested in capital assets, net of debt

Net assets, unrestricted

$34,660

$2,290

$554

$117,126

$93,124

$66,321

$6,400

$117,271

$3,719

$28,803

$5,557

$3,849

$236,517

$105,213

$9,487

$6,629

$236,747

$4,960

EXECUTIVE DIRECTOR(S)

During Audit Period: Kim Robinson (through 9-30-02), Dan Egler, Acting (10-1-02 to

3-30-03, Gevan Behnke, Acting (3-31-03 to 6-24-03), Anthony Rossi (effective 6-25-03)

Currently: Anthony Rossi