REPORT DIGEST

 

INTERMEDIATE SERVICE CENTER #1

 

NORTH COOK

 

FINANCIAL AUDIT

(In Accordance with the
Single Audit Act and OMB Circular A-133)

For the Year Ended:

June 30, 2006

 

Summary of Findings:

 

Total this audit                          0

Total last audit                          0

Repeated from last audit           0

 

Release Date:

Sept. 26, 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.auditor.illinois.gov

 

 

 

 

 

     INTRODUCTION

 

        Our report covers the financial audit, in accordance with the Single Audit Act and OMB Circular A-133, for the period ending June 30, 2006.

 

 

AUDITORS’ OPINION

 

      Our auditors state the Intermediate Service Center #1’s financial statements as of June 30, 2006 are fairly presented in all material respects.

 

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KJM:ro

 

SPECIAL ASSISTANT AUDITORS

 

      Our special assistant auditors were Lindgren, Callihan, Van Osdol & Co., Ltd.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

        {Expenditures and Revenues are summarized on the reverse page.}

 

 

 

 

                                                                                   

                                                INTERMEDIATE SERVICE CENTER #1

         NORTH COOK

 

                                                                  FINANCIAL AUDIT

                               (In Accordance with Single Audit Act and OMB Circular A-133)

                                                       For The Year Ended June 30, 2006

 

 

 

FY 2006

FY 2005

TOTAL REVENUES

$4,677,899

$4,419,406

Local Sources

$1,590,291

$1,548,085

% of Total Revenues

34.00%

35.03%

State Sources

$2,348,203

$1,913,441

% of Total Revenues

50.20%

43.30%

Federal Sources

$739,405

$957,880

% of Total Revenues

15.81%

21.67%

 

TOTAL EXPENDITURES

$4,528,476

$4,114,042

Salaries and Benefits

$2,246,489

$2,114,371

% of Total Expenditures

49.61%

51.39%

Purchased Services

$1,794,071

$1,715,594

% of Total Expenditures

39.62%

41.70%

All Other Expenditures

$487,916

$284,077

% of Total Expenditures

10.77%

6.91%

 

 

 

TOTAL NET ASSETS

$2,380,175

$2,230,752

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$191,106

 

$200,028

 

 

Percentages may not add due to rounding.

 

EXECUTIVE DIRECTOR

During Audit Period: Dr. Barbara Habschmidt

Currently: Robert Ingraffia