REPORT DIGEST ENVIRONMENTAL PROTECTION AGENCY FINANCIAL AUDIT For the Year Ended: June 30, 2009 Release Date: January 14, 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 http://www.auditor.illinois.gov

INTRODUCTION We performed a financial audit of the Environmental Protection Agency Fund 270 – Water Revolving Fund for the year ended June 20, 2009. A two-year compliance examination and a one-year financial statement audit of the Fund 270 will be performed for the period ended June 30, 2010. AUDITORS’ OPINION We conducted a financial audit of the Agency’s Water Revolving Fund for the year ended June 30, 2009. Our special assistant auditors stated that the Agency’s Water Revolving Fund financial statements of the Illinois Environmental Protection Agency as of and for the year ended June 30, 2009 are fairly stated in all material respects. ___________________________________ WILLIAM G. HOLLAND, Auditor General WGH:PH:pp AUDITORS ASSIGNED Our special assistant auditors for this engagement were E.C. Ortiz and Company, LLP. {Expenditures and Activity Measures are summarized on the reverse page.}

ENVIRONMENTAL PROTECTION AGENCY

FINANCIAL AUDIT – WATER REVOLVING FUND

For The Year Ended June 30, 2009

STATEMENT OF NET ASSETS (Amounts in thousands)		FY 2009
Assets Current Assets Cash and Cash Equivalents..................................................................................... Other receivables, net............................................................................................... Loans and notes receivable, net............................................................................. Due from federal government.................................................................................. Due from component unit........................................................................................ Other current assets................................................................................................. Restricted assets – accrued interest receivable................................................... Restricted assets – loans receivables................................................................... Total current assets Noncurrent Assets Loans and notes receivable, net of current portion............................................. Capital assets, net of accumulated depreciation.................................................. Other noncurrent assets.......................................................................................... Restricted assets – loans receivable...................................................................... Total noncurrent assets............................................................................... TOTAL ASSETS Liabilities Current liabilities Accounts payable and accrued liabilities............................................................. Due to other funds.................................................................................................... Due to federal government...................................................................................... Lease payable............................................................................................................ Compensated absences........................................................................................... Total current liabilities................................................................................ Noncurrent liabilities Long-term obligations.............................................................................................. Compensated absences........................................................................................... Lease payable............................................................................................................ Total noncurrent liabilities........................................................................... TOTAL LIABILITIES.................................................................................. Net Assets Invested in capital assets, net of related debt........................................................ Restricted for Debt Service............................................................................................................... Other purposes.......................................................................................................... Unrestricted................................................................................................................. TOTAL NET ASSETS................................................................................. Operating Revenues..................................................................................................... Operating Expenses...................................................................................................... Operating Income.......................................................................................................... Total Non-operating Revenues (Expenses).............................................................. Changes in net assets.................................................................................................. Total net assets, July 1................................................................................................. Total net assets, June 30..............................................................................................		$416,281 13,364 128,485 5,966 487 117 2,215 29,299 $596,214 $1,303,512 234 534 297,244 $1,601,524 $2,197,738 $87 58 1 1 50 $197 $86,722 1,286 2 $88,010 $88,207 $231 328,758 1,666,546 113,996 $2,109,531 $46,007 13,881 $32,126 34,606 66,732 2,042,799 $2,109,531
	AGENCY DIRECTOR
	During Audit Period and Currently: Douglas P. Scott