REPORT DIGEST

 

CHICAGO TECHNOLOGY PARK CORPORATION

 

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

 

For the Year Ended:

June 30, 2005

 

Summary of Findings:

 

Total this audit††††††††††          ††† 0

Total last audit††††††††             n/a

Repeated from last audit†††††   n/a

 

Release Date:

March 8, 2006 

 

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

Attn:Records Manager

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

 

 

 

 

 

 

 

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

 

†††† This is the first report on the Chicago Technology Park Corporation. There were no material findings of noncompliance disclosed during our testing.We commend the Corporation for maintaining effective systems of internal control.

 

 

 

 

AUDITORSí OPINION

 

††††††† Our auditors stated that the financial statements present fairly, in all material respects, the financial position of the governmental activities and each major fund of the Chicago Technology Park Corporation as of June 30, 2005, and the respective changes in financial position thereof for the year then ended.

 

 

 

 

 

       ____________________________________

†††††††††† WILLIAM G. HOLLAND, Auditor General

 

WGH:KMC:drh

 

 

 

SPECIAL ASSISTANT AUDITORS

 

†††††††††† Our special assistant auditors on this audit were Nykiel, Carlin & Co., LTD.

 

 

 

†††††††††††† {Expenditures and Activity Measures are summarized on the reverse page.}


 

CHICAGO TECHNOLOGY PARK CORPORATION

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

For the Year Ended June 30, 2005

 

 

STATEMENT OF ACTIVITIES

 

†††††††††† FY 2005

REVENUES

Program Revenues:..............................................

Grants ..............................................................

 

General Revenues:................................................

Interest Income.............................................

††††† Other Income...............................................

Total Revenues....................................................

 

EXPENDITURES

††††† Program Expenses..............................................

 

††††† Change in Net Assets.........................................

 

 

 

†††††† $†† 213,548

 

 

††††††††††††††† 3,651

†††††††††††††† 2,782

††††††† $219,981

 

 

†††††† $†† 461,237

 

†††† ††$ (241,256)

 

 

STATEMENT OF NET ASSETS

 

FY 2005

Assets:

Cash and cash equivalents...................................

 

††††††† $††† 82,019

†††††† Accounts Receivable.........................................

†††††† Due from other State Agencies...........................

†††††† Other Assets.....................................................

 

Total Assets.............................................................

††††††††††††† 42,893

††††††††††††† 78,317

†† †††††††††††††1,138

 

†††††† $†† 204,367

 

Liabilities:

††††††† Accounts Payable.............................................

††††††† Wages and benefits payable..............................

††††††† Accrued Vacation and Sick Time Payable......... †††††††

Total Liabilities:.........................................................

 

Fund balances/Net Assets, End of Year....................

 

 

 

††††††† $††† 47,395

††††††††††††††† 2,700

†††††† †††††††††2,523

 

††††††† $††† 52,618

 

†††††††† $151,749

EXECUTIVE DIRECTOR

During Audit Period:Samuel Pruett

Currently:Samuel Pruett