REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #24

 

GRUNDY AND KENDALL COUNTIES

 

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†††††††††††   †† 3

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, 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 Regional Office of Education #24ís financial statements as of June 30, 2007 are fairly stated 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 #24

GRUNDY AND KENDALL 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

$5,186,694

$4,820,310

Local Sources

$196,650

$251,679

% of Total Revenues

3.79%

5.22%

State Sources

$3,955,256

$3,352,794

% of Total Revenues

76.26%

69.56%

Federal Sources

$1,034,788

$1,215,837

% of Total Revenues

19.95%

25.22%

 

TOTAL EXPENDITURES

$5,128,296

$4,688,521

Salaries and Benefits

$3,643,352

$3,252,074

% of Total Expenditures

71.04%

69.36%

Purchased Services

$682,869

$799,834

% of Total Expenditures

13.32%

17.06%

All Other Expenditures

$802,075

$636,613

% of Total Expenditures

15.64%

13.58%

 

 

 

TOTAL NET ASSETS

$444,431

$386,033

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$60,283

 

$62,939

 

Percentages may not add due to rounding.

 

REGIONAL SUPERINTENDENT

During Audit Period: Honorable Thomas J. Centowski

Currently:Honorable Paul Nordstrom