REPORT DIGEST

 

NORTHERN ILLINOIS UNIVERSITY ALUMNI ASSOCIATION

 

FINANCIAL AUDIT

 

For the Year Ended:

June 30, 2003

 

 

Release Date:

January 28, 2004

 

 

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 for the period ending June 30, 2003.

 

 

AUDITORSí OPINION

Our auditors state the Alumni Associationís financial statements as of June 30, 2003 were fairly presented.

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:TLK:pp

 

SPECIAL ASSISTANT AUDITORS

The Bronner Group, Inc. were our special assistant auditors on this audit.

 

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

 

                   NORTHERN ILLINOIS UNIVERSITY ALUMNI ASSOCIATION

                                                      FINANCIAL AUDIT

                                             For the Year Ended June 30, 2003

 

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2003

FY 2002

REVENUES (Operating and Nonoperating)

Gifts

Royalties

Net Investment Income (Loss)

Total Revenues 9;

EXPENSES

Scholarships and Fellowships

Institutional Support and Other Expenses

Total Expenses

 

Increase (Decrease) in Net Assets

 

$9,569

10,069

50,814

$70,452

 

 

$67,250

355,880

$423,130

 

($352,678)

 

$13,314

1,716,068

(142,728)

1,586,654

 

 

$55,250

76,431

$131,681

 

$1,454,973

SELECTED ACCOUNT BALANCES

(ALL FUNDS)

AT JUNE 30, 2003

AT JUNE 30, 2002

Cash and Cash Equivalents

Funds Held by NIU Foundation

Other Assets

Total Assets

 

Accounts Payable

Total Liabilities

 

Unrestricted Net Assets

Restricted Non-expendable Net Assets

Restricted Expendable Net Assets

Total Net Assets

$ 1,527,050

1,387,596

13,304

$2,927,950

 

$40,393

$40,393

 

$2,552,608

94,006

240,943

$2,887,557

$ 1,501,403

1,743,239

0

$3,244,642

 

$4,407

$4,407

 

$2,956,687

96,621

186,927

$3,240,235

ASSOCIATION OFFICIALS

During Audit Period: Executive Director: Lee McCauley

Currently: Lee McCauley