REPORT DIGEST NORTHERN ILLINOIS UNIVERSITY ALUMNI ASSOCIATION FINANCIAL
AUDIT For the Year Ended: June 30, 2006 Release Date: November
29, 2006
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 the
Full Report are also available on the worldwide web at |
INTRODUCTION
This digest covers the financial audit for the period ending June 30, 2006. A compliance examination covering the two years ended June 30, 2006 is being issued separately. AUDITORS’ OPINION
Our auditors state the Alumni Association’s financial statements as of June 30, 2006 were fairly presented. ____________________________________ 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
FINANCIAL AUDIT
For the Year 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............................................... Decrease in Net Assets |
$46,000 266,925 $312,925 ($58,006) |
$45,000 640,305 $685,305 ($455,212) |
SELECTED
ACCOUNT BALANCES (ALL
FUNDS) |
AT
JUNE 30, 2006 |
AT
JUNE 30, 2005 |
Prepaid Expenses......................................................... Cash and Investments Administered by NIU Total Assets.................................................................. Total Liabilities.............................................................. Unrestricted Net Assets................................................ Restricted Non-expendable Net Assets......................... Restricted Expendable Net Assets................................. Total Net Assets........................................................... |
$ 2,332,380 $ 2,334,380 $48,640 $1,928,333 120,945 236,462 $2,285,740 |
$0
$ 2,441,270 $ 2,441,270 $97,524 $2,004,066 113,970 225,710 $2,343,746 |
ASSOCIATION OFFICIALS |
||
During Audit Period
and currently: Michael Malone - Interim Executive Director |