REPORT DIGEST

 

ILLINOIS HEALTH FACILITIES AUTHORITY

 

FINANCIAL AND COMPLIANCE AUDIT

For the Year Ended:

June 30, 2003

 

Summary of Findings:

 

Total this audit                      0

Total last audit                      0

Repeated from last audit       0

 

Release Date:

February 24, 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

Our report disclosed no material compliance findings. The Authority is commended for maintaining effective fiscal controls.

 

AUDITORSí OPINION

Our auditors state the June 30, 2003 financial statements of the Authority are fairly presented in all material respects.

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:TLK:pp

 

SPECIAL ASSISTANT AUDITORS

Nykiel Carlin & Co. were our special assistant auditors on this audit.

 

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

 

ILLINOIS HEALTH FACILITIES AUTHORITY

FINANCIAL AND COMPLIANCE AUDIT

For The Year Ended June 30, 2003

 

REVENUES AND EXPENSES

FY 2003

FY 2002

! Total Revenues

$1,544,372

$2,090,116

Application Fees

% of Revenues

$441,545

29%

$873,898

42%

Annual Fees

% of Revenues 9;

$856,665

55%

$822,079

39%

Investment Income

% of Revenues

$246,062

16%

$392,894

19%

Other Income

% of Revenues

$100

0%

$1,245

0%

! Total Expenses

 

$1,352,971

$1,874,576

Salaries and Benefits

% of Expenses

$431,027

32%

$432,385

23%

Average No. of Employees

5

5

Contractual Services

% of Expenses

$701,984

52%

$1,213,221

65%

Other Items

% of Expenses

$219,960

16%

$228,970

12%

! Change in Net Assets

$191,401

$215,540

! Cost of Property and Equipment

$14,949

$14,949

SELECTED ACTIVITY MEASURES

FY 2002

FY 2001

! Total Number of Bond Issues

266

266

! Total Number of New Bond Issues

12

32

! Total Bond Issue Value Outstanding (in millions)

$9,377

$9,416

AGENCY DIRECTOR

During Audit Period: Mary McInerney

Currently: Mary McInerney