REPORT DIGEST

 

INTERMEDIATE SERVICE CENTER #2

 

WEST 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 Datte:

September 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 is 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 #2ís financial statements as of June 30, 2007 are fairly presented in all material respects.

 

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:JRB

 

 

 

 

SPECIAL ASSISTANT AUDITORS

 

††††† Lindgren, Callihan, Van Osdol & Co., LTD was our special assistant auditor in this audit.

 

 

 

 

 

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


†††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††

 

 

 

INTERMEDIATE SERVICE CENTER #2

†††††††† WEST COOK

 

††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††† FINANCIAL AUDIT

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

†††††††††††††††††††††††††††††††††††††††††††††††††††††† For The Year Ended June 30, 2007

 

 

FY 2007

FY 2006

TOTAL REVENUES

$5,102,760

$4,773,702

Local Sources

$1,169,893

$1,040,224

% of Total Revenues

22.93%

21.79%

State Sources

$1,757,796

$1,657,667

% of Total Revenues

34.45%

34.73%

Federal Sources

$2,175,071

$2,075,811

% of Total Revenues

42.63%

43.48%

 

TOTAL EXPENDITURES

$5,247,099

$4,831,909

Salaries and Benefits

$2,565,131

$2,358,573

% of Total Expenditures

48.89%

48.81%

Purchased Services

$1,749,392

$1,695,979

% of Total Expenditures

33.34%

35.10%

All Other Expenditures

$932,576

$777,357

% of Total Expenditures

17.77%

16.09%

 

 

 

TOTAL NET ASSETS

$247,543

$391,882

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$151,093

 

$135,802

 

 

Percentages may not add due to rounding.

 

EXECUTIVE DIRECTOR

During Audit Period: Kay Poyner Brown

Currently:Kay Poyner Brown