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, 2007

 

Summary of Findings:

 

Total this audit††††††††††     ††† 0

Total last audit††††††     ††††††† 0

Repeated from last audit    0

 

Release Date:

Sept.18, 2008

 

 

 

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, 2007.

 

 

AUDITORSí OPINION

 

†††††††† Our auditors state the Intermediate Service Center #1ís financial statements as of June 30, 2007 are fairly presented in all material respects.

 

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KJM

 

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, 2007

 

 

 

FY 2007

FY 2006

TOTAL REVENUES

$5,128,615

$4,677,899

Local Sources

$1,899,885

$1,590,291

% of Total Revenues

37.04%

34.00%

State Sources

$2,411,438

$2,348,203

% of Total Revenues

47.02%

50.20%

Federal Sources

$817,292

$739,405

% of Total Revenues

15.94%

15.81%

 

TOTAL EXPENDITURES

$4,898,417

$4,528,476

Salaries and Benefits

$2,512,879

$2,246,489

% of Total Expenditures

51.30%

49.61%

Purchased Services

$1,824,195

$1,794,071

% of Total Expenditures

37.24%

39.62%

All Other Expenditures

$561,343

$487,916

% of Total Expenditures

11.46%

10.77%

 

 

 

TOTAL NET ASSETS

$2,610,373

$2,380,175

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$231,813

 

$191,106

 

 

Percentages may not add due to rounding.

 

EXECUTIVE DIRECTOR

During Audit Period: Dr. Barbara Habschmidt

Currently: Mr. Robert Ingraffia