|
REPORT DIGEST
DEPARTMENT OF EMPLOYMENT
SECURITY
FINANCIAL AUDITFor the Year Ended: June 30, 2006 Release Date: April 3, 2007
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 Full
Report are also available on the worldwide web at |
INTRODUCTION
This report covers our financial audit of the Department of Employment Security’s Non-Shared Funds for the years ended June 30, 2006. A State compliance examination covering the two years ended June 30, 2007 will be performed next year. AUDITORS’ OPINION Our auditors stated the financial statements
present fairly, in all material respects, the financial position of the
Non-Shared Funds of the Department of Employment Security as of June 30,
2006, and the changes in financial position and cash flows, where applicable,
thereof for the year then ended. ___________________________________ WILLIAM G. HOLLAND, Auditor General WGH:JAF:pp SPECIAL ASSISTANT AUDITORS McGladrey
& Pullen, LLP were our special assistant auditors for this audit. {Expenditures and Activity Measures are summarized on the next page.} |
ILLINOIS DEPARTMENT OF EMPLOYMENT SECURITY
FINANCIAL AUDIT
For the Year Ended June 30, 2006
|
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS Unemployment
Compensation Trust Fund (in thousands) |
2006 |
2005 |
|
OPERATING
REVENUES: Unemployment taxes.............................................................. Federal government................................................................ Total Operating Revenues............................................ OPERATING EXPENSES:
Benefit Payments and Refunds............................................ Operating Income........................................................... NONOPERATING
REVENUES (EXPENSES): Interest and investment income........................................... Other revenue.......................................................................... Interest and investment expenses........................................ Other expenses........................................................................ Total nonoperating revenues
(expenses)................... Income (loss) before transfers........................................ TRANSFERS IN (OUT) Increase (Decrease) in net
assets................................. |
$ 2,647,627 31,013 2,678,640 1,719,571 959,069 33,865 – (6,731) (4,960) 22,174 981,243 (17,289) $ 963,954 |
$ 2,578,835 23,912 2,602,747 1,945,631 657,116 15,946 79 (34,413) (2,512) (20,900) 636,216 (15,910) $ 620,306 |
|
STATEMENT
OF NET ASSETS (at June 30) Unemployment
Compensation Trust Fund (in thousands) |
2006 |
2005 |
|
ASSETS: Cash and cash equivalents................................................... Investments............................................................................. Receivables, Net: Taxes................................................................................. Intergovernmental.......................................................... Others............................................................................... Other assets............................................................................. Total Assets.................................................................. LIABILITIES: Benefit payments payable..................................................... Intergovernmental payables................................................. Other payables........................................................................ Bonds and notes payable...................................................... Total Liabilities NET
ASSETS................................................................................... |
$ 10,000 1,137,136 505,595 27,844 75,405 3,714
1,759,694 75,840 7,526 5,296
–
88,662
$ 1,671,032 |
$ 208,231 631,317 513,748 29,420 74,755 9,214
1,466,685 72,618 5,010 4,681 677,298 759,607
$ 707,078 |
|
AGENCY
DIRECTOR |
||
|
During Audit Period: Brenda A. Russell Currently: Brenda A. Russell |
||