REPORT DIGEST

EASTERN ILLINOIS UNIVERSITY

ALUMNI ASSOCIATION, INC.

FINANCIAL AUDIT

For the One Year Ended:

June 30, 2005

COMPLIANCE ATTESTATION EXAMINATION

For the Two Years Ended:

June 30, 2005

Summary of Findings

Total this audit                          0

Total last audit                          0

Repeated from last audit           0

Release Date:

February 22, 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

Iles Park Plaza

740 E. Ash Street

Springfield, IL 62703

(217) 782-6046 or TTY (888) 261-2887

This Report Digest is also available on

The worldwide web at

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

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

      There were no material findings of noncompliance disclosed during our audit tests.  We commend the Association for maintaining an effective system of internal controls. 

AUDITORS' OPINION

      The auditors state the Eastern Illinois University Alumni Association financial statements as of June 30, 2005 and for the year then ended are fairly presented in all material respects.

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:JAF:pp

SPECIAL ASSISTANT AUDITORS

      Doehring, Winders & Co. LLP were our special assistant auditors for this engagement.

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

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS

FY 2005

FY 2004

Operating Revenues

     Membership dues..........................................................

     Royalties.......................................................................

     Service contract with University.....................................

     Budget allocation from University...................................

     Alumni promotions.........................................................

     Other operating revenue.................................................

         Total operating revenues.............................................

Operating Expenses

     Promotional activities.....................................................

     In-kind expenses under contract with the University.........

     Postage, telephone and supplies......................................

     Printing.........................................................................

     Meetings and receptions.................................................

     Budget expended at the University..................................

     Professional fees...........................................................

     Depreciation..................................................................

     Insurance......................................................................

     Personal services...........................................................

     Dues and subscriptions...................................................

     Bad debt expense..........................................................

     Building expenditures.....................................................

         Total operating expenses.............................................

Nonoperating Revenue (Expenses)

     Investment income.........................................................

     Scholarships..................................................................

     Gifts/grants to the University..........................................

         Total nonoperating revenue (expense)..........................

INCREASE (DECREASE) IN NET ASSETS.....................

Net assets, beginning of year ..............................................

Net assets, end of year........................................................

$46,015

650,440

25,625

10,171

1,020

1,408

$734,679

$38,738

25,625

21,005

23,490

9,905

10,171

8,172

5,999

3,263

4,050

1,562

0

512

$152,492

$30,802

(5,000)

(90,557)

(64,755)

$517,432

1,567,809

$2,085,241

$41,710

2,073

25,240

23,549

1,177

1,399

$95,148

$34,519

25,240

10,320

18,281

9,978

23,549

8,018

5,999

3,272

2,401

554

5,900

4,111

$152,142

$32,385

(5,200)

(10,500)

16,685

($40,309)

1,608,118

$1,567,809

SELECTED ACCOUNT BALANCES AT JUNE 30

FY 2005

FY 2004

Assets

   Cash and investments......................................................

   Capital assets, net of accumulated depreciation..................

   Receivables and prepaid expenses....................................

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

$1,272,300

229,683

     583,263

$2,085,246

$1,195,812

235,682

     137,521

$1,569,015

Liabilities and Net Assets

   Accounts payable and accrued liabilities............................

   Invested in capital assets, net of related debt.....................

   Unrestricted net assets.....................................................

       Total Liabilities and Net Assets.....................................

$5

          229,683

   1,855,558

$2,085,246

$1,206

          235,682

   1,332,127

$1,569,015

ALUMNI ASSOCIATION EXECUTIVE DIRECTOR

   During Audit Period and Currently:  Mr. Steve Rich, Executive Director