REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #4

 

BOONE AND WINNEBAGOCOUNTIES

 

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† †††††††††   †† 2

Repeated from last audit  0

 

Release Date:

June 24, 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 for the period ending June 30, 2007.

 

 

 

 

AUDITORSí OPINION

 

†††††††† Our auditors state the Regional Office of Education #4ís 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 E.C. Ortiz & Co., LLP.

 

 

 

 

 

 

 

 

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


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

REGIONAL OFFICE OF EDUCATION #4

BOONE AND WINNEBAGO COUNTIES

 

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

$6,584,404

$6,381,859

Local Sources

$1,374,223

$1,205,679

% of Total Revenues

20.87%

18.89%

State Sources

$3,504,512

$3,090,596

% of Total Revenues

53.22%

48.43%

Federal Sources

$1,705,669

$2,085,584

% of Total Revenues

25.90%

32.68%

 

TOTAL EXPENDITURES

$5,887,494

$6,077,003

Salaries and Benefits

$2,853,901

$2,905,368

% of Total Expenditures

48.47%

47.81%

Purchased Services

$2,290,544

$2,226,724

% of Total Expenditures

38.91%

36.64%

All Other Expenditures

$743,049

$944,911

% of Total Expenditures

12.62%

15.55%

 

 

 

TOTAL NET ASSETS

$4,273,374

$3,576,464

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$57,189

 

$67,781

††††† †††Percentages may not add due to rounding

 

REGIONAL SUPERINTENDENT

During Audit Period: Honorable Richard Fairgrieves

Currently: Honorable Richard Fairgrieves