REPORT DIGEST

REGIONAL OFFICE OF EDUCATION #10

CHRISTIAN AND MONTGOMERY COUNTIES

FINANCIAL AUDIT

For the Year Ended:

June 30, 2007

Summary of Findings:

Total this audit                  0

Total last audit                  1

Repeated from last audit   0

Release Date:

April 3, 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 for the period ending June 30, 2007.

AUDITORS’ OPINION

         Our auditors state the Regional Office of Education #10’s 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 West & Company, LLC.

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

FY 2007

FY 2006

TOTAL REVENUES

$1,093,405

$1,116,142

Local Sources

$167,412

$159,075

% of Total Revenues

15.31%

14.25%

State Sources

$846,300

$830,770

% of Total Revenues

77.40%

74.43%

Federal Sources

$79,693

$126,297

% of Total Revenues

7.29%

11.32%

TOTAL EXPENDITURES

$1,103,434

$1,127,254

Salaries and Benefits

$915,556

$912,729

% of Total Expenditures

82.97%

80.97%

Purchased Services

$127,984

$138,625

% of Total Expenditures

11.60%

12.30%

All Other Expenditures

$59,894

$75,900

% of Total Expenditures

5.43%

6.73%

TOTAL NET ASSETS

$131,449

$141,478

INVESTMENT IN CAPITAL ASSETS

$5,956

$12,686

      Percentages may not add due to rounding.

REGIONAL SUPERINTENDENT 

During Audit Period: Honorable Greg Springer

Currently: Honorable Greg Springer