REPORT DIGEST

GOVERNORS STATE
UNIVERSITY
FOUNDATION


FINANCIAL AUDIT
For the Year Ended:
June 30, 1998







Release Date:
May 20, 1999





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

This report covers our financial audit for the year ended June 30, 1998. A compliance audit covering the two years ending June 30, 1999 will be performed next year.
 

AUDITORS' OPINION

Our auditors state the financial statements of Governors State University Foundation at June 30, 1998 are fairly presented in all material respects.
 

____________________________________
WILLIAM G. HOLLAND, Auditor General

WGH:ROQ:ak 
 

SPECIAL ASSISTANT AUDITORS

Our special assistant auditors for this audit were De Raimo, Eisen & Fey.

 

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


GOVERNORS STATE UNIVERSITY FOUNDATION
FINANCIAL AUDIT
For the Year Ended June 30, 1998

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1998

FY 1997

REVENUE
Contributions
Investment Revenue
Support from University
Other
   Total revenues

EXPENDITURES
Scholarships
University Support
General & Fundraising
Performing Arts
Other
   Total expenditures


$249,148
97,031
84,079
61,135
$491,393


$46,080
56,167
23,107
105,145
123,232
$353,731


$293,329
126,225
76,992
-0-
$496,546


$64,698
27,375
27,142
996,027
118,189
$1,226,551

SELECTED ACCOUNT BALANCES (ALL FUNDS)

AT JUNE 30,
1998

AT JUNE 30,
1997

Total Assets
Fund Balances:
   Unrestricted
   Restricted
   Endowment

$1,946,472

$2,397
$1,454,998
$443,051

$2,181,107

$2,302
$1,466,166
$294,316

FOUNDATION EXECUTIVE DIRECTOR
During Audit Period: Mr. Brandon Senter
Currently: Mr. Brandon Senter