REPORT DIGEST

ILLINOIS STATE UNIVERSITY FOUNDATION

FINANCIAL AUDIT

For the Year Ended:
June 30, 1999

 




Release Date:
February 9, 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 audit of the Illinois State University Foundation for the fiscal year ended June 30, 1999. A compliance audit for the two years ended June 30, 2000 will be performed at a later date.

AUDITORS’ OPINION

Our auditors stated the June 30, 1999 financial statements of the Illinois State University Foundation are fairly presented.

 

____________________________________
WILLIAM G. HOLLAND, Auditor General

 

WGH:JHL:pp

SPECIAL ASSISTANT AUDITORS

Clifton Gunderson L.L.C. were our special assistant auditors for this engagement.

 

 

 

 

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

 

 

 

 

ILLINOIS STATE UNIVERSITY FOUNDATION
FINANCIAL AND COMPLIANCE AUDIT
For The Two Years Ended June 30, 1999

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1999

FY 1998

REVENUE AND PROPERTY ADDITIONS
Gifts, grants, and awards
Investment income
Gain (loss) on investments
Net increase in fair value of investments
Nongift income
Property and equipment additions
Other revenue
     Total
EXPENDITURES AND PROPERTY DEDUCTIONS
Awards, scholarships, and grants
Athletic support
College and academic departmental support
Foundation and development
Other operating expenditures
Expenditure/deductions for property & equip.
     Total
NET CHANGE IN FUND BALANCE


$ 6,708,497
877,625
25,858
2,207,923
1,331,054
-
264,462
$11,415,419

$ 582,307
1,157,417
1,483,317
762,112
913,226
6,615
$4,904,994
$6,510,425


$ 6,266,035
780,813
69,961
2,404,211
1,561,137
23,541
562,893
$11,668,591

$ 582,266
1,085,048
1,384,703
753,300
947,804
29,263
$4,782,384
$6,886,207

SELECTED ACCOUNT BALANCES
(ALL FUNDS)


AT JUNE 30, 1999


AT JUNE 30, 1998

Cash and Investments
Fund Balances:
   Unrestricted
   Restricted
   Endowment
   Investment in Plant

$365987,740

$1,759,696
11,209,796
23,298,747
423,406

$30,076,385

$1,918,711
8,018,005
19,814,483
430,021

SELECTED ACTIVITY MEASURES

FY 1999

FY 1998

Distributions to the University (Total)
Contributions to the Foundation (Total)
Contribution Ratio (cost per dollar raised)
Distribution Ratio (cost per dollar distributed)

$3,559,741
$6,708,497
0.136
0.256

$3,356,770
$6,266,035
0.149
0.278

FOUNDATION EXECUTIVE DIRECTOR
During Audit Period: Dr. Susan Kern