REPORT DIGEST

 

NORTHERN ILLINOIS UNIVERSITY ALUMNI ASSOCIATION

 

COMPLIANCE EXAMINATION

For the Two Years Ended:

June 30, 2006

 

Summary of Findings:

Total this audit†††††            †††††††† 0

Total last audit††††††††††††            † 0

Repeated from last audit†††††††††† 0

 

 

 

Release Date:

March 8, 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

 

 

 

 

FINDINGS, CONCLUSIONS, AND
RECOMMENDATIONS

 

           There were no material findings of noncompliance disclosed during our compliance examination.We commend the Alumni Association for maintaining an effective system of internal controls.†††††††††† †††††††††††

 

 

AUDITORSí OPINION

 

             Our financial statement audit for the year ended June 30, 2006 was previously issued.Our auditors stated the Alumni Associationís June 30, 2006 financial statements are fairly presented in all material respects.

 

 

 

 

††††††††††††††††††††††† ____________________________________

††††††††††††††††††††††††† WILLIAM G. HOLLAND, Auditor General

 

††††††††††† WGH:TLK:pp

 

 

SPECIAL ASSISTANT AUDITORS

 

††††††††††††††††† Clifton Gunderson, LLP were our special assistant auditors on this audit.

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 


 


NORTHERN ILLINOIS UNIVERSITY ALUMNI ASSOCIATION

COMPLIANCE EXAMINATION

For the Years Ended June 30, 2006

 

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2006

FY 2005

REVENUES (Operating and Nonoperating)

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

Royalties..............................................................

Program Support from NIU President Allocation

Net Investment Income........................................

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

 

$19,856

51,133

0

183,930

$254,919

 

$24,754

0

10,000

195,339

$230,093

EXPENSES

Scholarships and Fellowships...............................

Institutional Support and Other Expenses

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

 

$46,000

266,925

$312,925

 

$45,000

640,305

$685,305

ASSOCIATION OFFICIALS

During Audit Period and currently: Michael Malone - Interim Executive Director