REPORT DIGEST

 

CHICAGO TECHNOLOGY PARK CORPORATION

 

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION

For the Year Ended:

June 30, 2009

 

Summary of Findings:

 

Total this audit††††          ††† 0

Total last audit††††††††††††††††††† 1

Repeated from last audit†††† 0

 

Release Date:

March 3, 2010

 

 

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

 

 

 

 

 

 

 

FINAL REPORT

 

This is our final report on the Chicago Technology ††††††Park Corporation.The Corporation was voluntarily†† dissolved on June 26, 2009.

 

 

 

 

 

 

AUDITORSí OPINION

Our auditors stated that the financial statements present fairly, in all material respects, the respective financial position of the business-type activities of the Corporation as of June 30, 2009, and the respective changes in net assets and cash flows 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 E.C. Ortiz & Co., LLP.

 

 

 

 

††††††††† {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, 2009

 

STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS

 

†† †††FY 2009

 

†††† FY 2008

OPERATING REVENUES

Federal Grants and Contracts

State Grants and Contracts

Services

Total Operating Revenues

 

OPERATING EXPENSES

Grant Programs

Depreciation and Amortization

Total Operating Expenses

 

OPERATING (LOSS) INCOME

 

CHANGE IN NET ASSETS

 

$355,533

††††††† ----†††

††††† 35,406

$390,939

 

 

$ 512,911

†††††---†††††

$512,911

 

$(121,972)

 

$(121,972

 

††† $655,578

††††† 100,000

2,764,273

$3,519,851

 

 

$3,346,280

†††† 367,266

$3,713,546

 

$(193,695)

 

$(193,695)

 

STATEMENT OF NET ASSETS

 

††† ††FY 2009

 

†††† FY 2008

ASSETS

Cash and Cash Equivalents

Accounts Receivable

Due from other State Agencies

Total Assets

 

LIABILITIES

Accounts Payable and Accrued Expenses

Total Liabilities:

 

NET ASSETS

Restricted for grant activities

Invested in Capital Assets

Total Net Assets

 

TOTAL LIABILITIES AND NET ASSETS

 

$††----- ††

††††-----††

††† -----††

$††† -----††† -

 

 

††††-----††

†††† ----- ††

 

 

††††-----††

††††-----††

††††-----††

 

$------

 

 

$††††† 7,343

†††††† 105,192

††† †††106,593

$ 219,128

 

 

$†††† 97,156

$ ††††97,156

 

 

$†† 121,972

††††††

$†† 121,972

 

$†† 219,128

 

PRESIDENT

 

During Audit Period:Samuel Pruett

Currently:N/A