REPORT DIGEST

NORTHERN ILLINOIS
UNIVERSITY
FOUNDATION




COMPLIANCE AUDIT
For the Two Years Ended:
June 30, 1998
FINANCIAL AUDIT
For the Year Ended:
June 30, 1998



Release Date:
May 20, 1999





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, 1998 and compliance audit of the Foundation for the two fiscal years ended June 30, 1998.
 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

There were no material compliance findings reported for the period ending June 30, 1998.
 

AUDITORS' OPINION

Our auditors stated the Foundation's financial statements as of June 30, 1998 were fairly presented except for the effects of such adjustments, if any, as might have been determined to be necessary had they been able to examine evidence regarding Year 2000 disclosures.
 

____________________________________
WILLIAM G. HOLLAND, Auditor General

WGH:JTD:pp
 

SPECIAL ASSISTANT AUDITORS

PricewaterhouseCoopers, LLP were our special assistant auditors on this audit.

 

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


NORTHERN ILLINOIS UNIVERSITY FOUNDATION
COMPLIANCE AUDIT
For the Two Years Ended June 30, 1998

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1998

FY 1997

REVENUES AND OTHER ADDITIONS
Gifts
Royalties
Investment Income
Contract Services Provided to NIU
All Other Income
Total Revenue and Other Additions

EXPENDITURES AND OTHER DEDUCTIONS
Scholarships
Support for University Departments and Programs
Library books, equipment and property improvements
Administrative Services provided to NIU
Other Expenditures/Deductions
Total Expenditures and Other Deductions


$4,766,465
10,164
2,736,339
249,807
143,715
$7,906,490


$513,463
2,272,959
596,357
179,807
537,256
$4,099,842


$5,321,962
760,088
1,975,593
258,303
208,765
$8,524,711


$442,885
2,710,526
1,002,640
188,303
41,158
$4,385,512

SELECTED ACCOUNT BALANCES

AT JUNE 30, 1998

AT JUNE 30, 1997

Cash and Cash Equivalents
Investments
Land and Buildings
Equipment
Unrestricted Fund Balance
Restricted Fund Balance
Endowment
Investment in Plant

$ 1,104,189
19,691,504
394,350
1,777,639
3,915,100
2,185,425
11,478,859
2,531,789

$ 2,050,845
14,422,206
1,556,815
1,551,091
3,587,061
1,683,413
8,872,035
3,467,706

FOUNDATION OFFICIALS
President: Michael P. Malone