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REPORT DIGEST NORTHERN ILLINOIS UNIVERSITY FOUNDATION FINANCIAL
AUDIT For the Year Ended: June 30, 2005 Release Date: February 2, 2006
State of Illinois Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
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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 is also
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INTRODUCTION
Our report covers the financial audit for the period ending June 30, 2005. AUDITORS’ OPINION
Our auditors state the Foundation’s financial statements as of June 30, 2005 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
FOUNDATION
FINANCIAL AUDIT
For the Year Ended June 30, 2005
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FINANCIAL OPERATIONS (ALL FUNDS) |
FY
2005 |
FY
2004 |
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REVENUES
(Operating and Nonoperating) Gifts..................................................................... Investment Income............................................... Services Contract Revenue from NIU................... All Other Income................................................. Total
Revenues.............................................. |
$15,598,414 3,324,967 531,719 1,196,671 $20,651,771 |
$13,533,131 4,330,233 511,870 293,911 $18,669,145 |
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EXPENSES Scholarships and Fellowships............................... Support for University Departments and Programs Fundraising.......................................................... Administrative Services provided to NIU.............. Total Expenses..................................................... Increase in Net Assets |
$731,883 8,673,751 1,058,418 273,267 $10,737,319
$9,914,452 |
$568,306 9,740,720 1,023,896 239,608 $11,572,530
$7,096,615 |
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SELECTED
ACCOUNT BALANCES (ALL FUNDS) |
AT
JUNE 30, 2005 |
AT
JUNE 30, 2004 |
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Cash and Cash Equivalents................................... Investments.......................................................... Capital assets....................................................... Building Construction in Progress.......................... Other Assets........................................................ Total Assets......................................................... Accounts Payable................................................ Deposits Held
for NIU Alumni Association........... Endowment Administered for NIU....................... Other Liabilities.................................................... Total Liabilities..................................................... Unrestricted Fund Balance................................... Restricted Nonexpendable................................... Restricted Expendable.......................................... Invested in capital assets....................................... Total Net Assets.................................................. |
$ 1,889,047 46,584,909 4,232,273 5,015,337 3,749,614 $61,471,180 $2,357,029 2,441,270 2,962,084 1,298,860 $9,059,243
$5,083,153 26,680,881 16,415,630 4,232,273 $52,411,937 |
$ 1,235,634 40,881,422 4,227,820 474,238 1,661,816 $48,480,930 $166,387 2,873,070 2,707,244 236,744 $5,983,445
$4,593,383 20,096,250 13,580,032 4,227,820 $42,497,485 |
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FOUNDATION PRESIDENT |
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During Audit
Period: Mallory M. Simpson Currently: Mallory M. Simpson |
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