REPORT DIGEST

 

NORTHERN ILLINOIS UNIVERSITY

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

 

†††††††††††

 

Release Date:

January 31, 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

 

 

 

INTRODUCTION

 

Our report covers the financial audit for the period ending June 30, 2006.A single audit and compliance examination covering the year ending June 30, 2006 will be issued at a later date.

 

 

AUDITORSí OPINION

 

††††† Our auditors stated the financial statements of Northern Illinois University as of June 30, 2006, and for the year then ended, 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 Clifton Gunderson, LLP.

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 


 

NORTHERN ILLINOIS UNIVERSITY

††††††††††††††††††††††††††††††††††††††††††††††††††††††††††† FINANCIAL AUDIT

†††††††††††††††††††††††††††††††††††††† For The Year Ended June 30, 2006 (in Thousands)

 

 

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS

FY 2006

FY 2005

OPERATING REVENUES

Student tuition and fees, net.........................................................................

Grants, contracts, and gifts...........................................................................

Sales and services of educational departments...........................................

Auxiliary enterprises.......................................................................................

Other.................................................................................................................

††† Total Operating Revenues..........................................................................

OPERATING EXPENSES

Instruction........................................................................................................

Research...........................................................................................................

Public service...................................................................................................

Academic support...........................................................................................

Student services..............................................................................................

Operation and maintenance of plant............................................................

Institutional support.......................................................................................

Depreciation......................................................................................................

Staff benefits....................................................................................................

Student aid.......................................................................................................

Auxiliary enterprises.......................................................................................

††† Total Operating Expenses...........................................................................

Operating loss..................................................................................................

NONOPERATING REVENUES (EXPENSES)

State appropriations........................................................................................

Investment income...........................................................................................

Interest expense.................................................................................................

Gifts......................................................................................................................

Net increase (decrease) in fair value of investments

Total Nonoperating Revenues...........................................................................

INCREASE IN NET ASSETS............................................................................

Net Assets, beginning of the year....................................................................

Net Assets, end of the year................................................................................

 

$100,632

55,075

22,344

87,643

††††† 2,205

$267,899

 

$114,033

15,941

27,210

28,923

12,600

24,509

30,718

27,134

52,619

10,821

††† 68,102

$412,610

($144,711)

 

$157,514

3,014

(8,190)

5,549

†††††† (350)

$157,537

$12,826

189,857

$202,683

 

$92,823

53,057

18,927

81,928

††††† 1,817

$248,552

 

$108,826

14,402

25,738

27,571

11,615

23,607

27,015

26,221

53,945

10,648

††† 67,066

$396,654

($148,102)

 

$157,612

1,732

(8,627)

350

†††††† 37

$151,104

$3,002

186,855

$189,857

ACCOUNT BALANCES (ALL FUNDS)

FY 2006

FY 2005

Cash and cash equivalents..............................................................................

Investments and marketable securities..........................................................

Capital assets, net.............................................................................................

Accrued compensated absences....................................................................

Noncurrent revenue bonds payable..............................................................

$12,073

$74,010

$298,150

$23,644

$107,885

$7,100

$66,483

$301,629

$23,864

$111,891

UNIVERSITY PRESIDENT

 

 

During Audit Period:Dr. John G. Peters

Currently:Dr. John G. Peters