REPORT DIGEST

 

NORTHERN ILLINOIS UNIVERSITY
FOUNDATION

 

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 Foundation 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 Foundationís 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 FOUNDATION

COMPLIANCE EXAMINATION

For the Year Ended June 30, 2006

 

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2006

FY 2005

REVENUES (Operating and Nonoperating)

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

Investment Income...............................................

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

Income from Northern Illinois University service contract†††††

Support from NIU Alumni Association for Barsema Alumni and Visitors Center...................................

Special events, merchandise sales, and miscellaneous income.................................................................

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

 

$13,919,238

3,565,157

2,146

 

523,074

 

0

 

393,309

$18,402,924

 

$15,598,414

3,324,967

5,892

 

531,719

 

400,000

 

790,779

$20,651,771

FOUNDATION PRESIDENT

During Audit Period:Mallory M. Simpson

Currently:Mallory M. Simpson