REPORT DIGEST

KANKAKEE RIVER VALLEY AREA AIRPORT AUTHORITY

FINANCIAL AND COMPLIANCE AUDIT

For the Year Ended:

June 30, 2000

Summary of Findings:

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

Release Date:
April 5, 2001

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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

The Kankakee River Valley Area Airport Authority was created September 10, 1990 as a result of Public Act 86-1400, the Kankakee River Valley Area Airport Authority Act. Its mission is to facilitate safe and convenient air travel and transportation to and from the Kankakee River Valley by acquisition or construction and operation of one or more airports.

This digest covers the financial and compliance audit of the Authority for the year ended June 30, 2000. The Authority received no appropriations from the Illinois General Assembly, and funds were not held in the State Treasury. The Authority was financed solely through contributions from private sources and interest income received from locally held funds.

There were no material findings of noncompliance disclosed during our audit tests. We commend the Authority for maintaining an effective system of internal control.

AUDITORS’ OPINION

Our auditors stated the financial statements of the Authority as of June 30, 2000, and for the year ended, are fairly presented in all material respects.

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:JSC

AUDITORS ASSIGNED

This audit was performed by the staff of the Office of the Auditor General.

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

 

KANKAKEE RIVER VALLEY AREA AIRPORT AUTHORITY
FINANCIAL AND COMPLIANCE AUDIT
For The Year Ended June 30, 2000

PROPRIETARY FUND FINANCIAL OPERATIONS

FY 2000

FY 1999

PROPRIETARY FUND REVENUES
OPERATING REVENUES
Interest Income

$108

$119

Total Operating Revenues

$108

$119

PROPRIETARY FUND EXPENSES
OPERATING EXPENSES
Contractual Services
Travel
Office Expenses
Dues - Airport Association
Telephone Expenses
Postage
Bank Service Charge
Total Operating Expenses
Operating Income (Loss)
Net Income (Loss)
Retained Earnings, July 1
Retained Earnings, June 30

$1,400
0
0
200
328
33
97
$2,058
$(1,950)
$(1,950)
$10,576
$8,626

$1,500
188
0
200
307
65
60
$2,320
$(2,201)
$(2,201)
$12,777
$10,576

CONTRIBUTED SERVICES    
Contributed Facilities and Services

$70

$5,105

SELECTED PROPRIETARY FUND BALANCES

JUNE 30, 2000

JUNE 30,  1999

Cash

$8,753

$10,770

Retained Earnings

$8,626

$10,576

AGENCY CHAIRMAN
During Audit Period: Mr. Robert Glade
Currently: Mr. Robert Glade