REPORT DIGEST

GOVERNORS STATE UNIVERSITY ALUMNI ASSOCIATION

FINANCIAL AUDIT
For the One Year Ended:
June 30, 1999
and

COMPLIANCE AUDIT
For the Two Years Ended:
June 30, 1999

Summary of Findings:

Total this audit 0
Total last audit 0
Repeated from last audit 0

Release Date:
March 29, 2000

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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
Attn: Records Manager
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 covers the financial and compliance audit of the Alumni Association. Our audit was performed to express an opinion on the Governors State University Alumni Association’s financial statements and to report on special data required by the University Guidelines. The Guidelines were issued by the Legislative Audit Commission to codify and improve the State universities’ fiscal practices and administration of locally held funds.

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

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

AUDITORS’ OPINION

Our auditors state the June 30, 1999 financial statements of the Governors State University Alumni Association are fairly presented in all material respects.

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Our special assistant auditors for this audit were

De Raimo, Hillger & Ripp.

 

 

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

GOVERNORS STATE UNIVERSITY ALUMNI ASSOCIATION

FINANCIAL AND COMPLIANCE AUDIT

For The Period Ended June 30, 1999

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1999

FY 1998

REVENUE
Contributions
Investment Revenue
Support from University
Alumni Events
Total Revenue
EXPENDITURES
Academic Awards
University Support
Budget Allocation from GSU
Alumni Events
General
Total Expenditures


$111,159
11,405
13,107
5,784
$141,455


$37,913
45,084
13,107
1,895
25,763
$123,762


$124,751
11,244
12,927
0
$148,922


$31,332
51,150
12,927
10,893
27,155
$133,457

SELECTED ACCOUNT BALANCES

AT JUNE 30, 1999

AT JUNE 30, 1998

Cash and Investments
Accounts Receivable
Total Assets
Accounts Payable
Fund Balances
Current Unrestricted
Current Restricted
Endowment Fund
Total Fund Balances
Total Liabilities and Fund Balances

$250,313
3,081
$253,394

$10,156

138,891
53,205
51,142
$243,238
$253,394

$238,908
942
$239,850

$14,305

105,569
71,299
48,677
$225,545
$239,850

AGENCY EXECUTIVE DIRECTOR
During Audit Period: Rosemary D. Hulett-Porter
Currently: Rosemary D. Hulett-Porter