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REPORT
DIGEST GOVERNORS STATE UNIVERSITY ALUMNI ASSOCIATION FINANCIAL AUDIT
For the Year Ended: June 30, 2006 Release Date: January 18, 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 http://www.state.il.us/auditor |
AUDITORS’ OPINION Our auditors state the June 30, 2006 financial statements of the Governors State University Alumni Association are fairly presented in all material respects. ____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:TLK:pp SPECIAL ASSISTANT AUDITORS Our special assistant auditors for this audit were Nykiel Carlin & Co., LTD. {Expenditures and Activity
Measures are summarized on the reverse page.} |
GOVERNORS STATE UNIVERSITY ALUMNI ASSOCIATION
FINANCIAL AUDIT
For
the Year Ended June 30, 2006
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FINANCIAL OPERATIONS (ALL FUNDS) |
FY 2006 |
FY 2005 |
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REVENUE Contributions .................................................. Investment Income........................................... Support from University................................... Total Revenue..................................... EXPENSES Scholarships.................................................... University Support........................................... Budget Allocation from GSU........................... Alumni Events.................................................. General........................................................... Total Expenses.................................... Income (Loss) before other revenues, expenses, gains and losses............................................... Endowment contributions..................................... Increase (decrease) in net assets..................... NET ASSETS Net Assets – beginning of year....................... Net Assets – end of year............................... |
$3,275 9,167 4,214 52,488 $69,144 $3,833 4,369 4,214 26,628 9,117 $48,161 $20,983 $75 $21,058 $151,240 $172,298 |
$9,595 6,535 5,101 46,914 $68,145 $12,747 46,022 5,101 5,132 30,298 $99,300 ($31,155) $250 ($30,905) $182,145 $151,240 |
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SELECTED ACCOUNT BALANCES |
AT JUNE 30, 2006 |
AT JUNE 30, 2005 |
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Cash and Cash Equivalents.............................. Certificates of Deposits.................................... Accounts Payable............................................ Unrestricted........................................... Restricted – Nonexpendable.................. Restricted – Expendable......................... Total Net Assets..................................... |
$175,850 0 3,777 $179,627 $7,329 $86,172 77,152 8,974 $172,298 |
$169,891 67,843 0 $237,734 $86,494 $66,357 77,077 7,806 $151,240 |
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ALUMNI ASSOCIATION DIRECTOR |
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During Audit Period and Currently: Rosemary D. Hulett |
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