REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #25

 

HAMILTON AND JEFFERSON COUNTIES

 

FINANCIAL AUDIT

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

For the Year Ended:

June 30, 2005

 

Summary of Findings:

 

Total this audit††††††††            ††††† 1

Total last audit†††††††††            †††† 2

Repeated from last audit†††††††††† 0

 

Release Date:

March 28, 2006

 

 

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 complete report is also available on

the worldwide web at

http://www.state.il.us/auditor

 

 

 

 

 

 

SYNOPSIS

 

 

 

        The Regional Office of Education #25 did not examine at least once each year all books, accounts, and vouchers of every school treasurer in its educational service region.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 


                                                                                   

REGIONAL OFFICE OF EDUCATION #25

HAMILTON AND JEFFERSON COUNTIES

 

 

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

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

†††††††††††††††††††††††††††††††††††††††††††††††††††††† For The Year Ended June 30, 2005

 

 

 

 

FY 2005

FY 2004

TOTAL REVENUES

$3,551,316

$3,525,395

Local Sources

$940,268

$1,080,338

% of Total Revenues

26.48%

30.64%

State Sources

$1,801,857

$1,732,642

% of Total Revenues

50.74%

49.15%

Federal Sources

$809,191

$712,415

% of Total Revenues

22.79%

20.21%

 

TOTAL EXPENDITURES

$3,567,881

$3,420,759

Salaries and Benefits

$1,888,609

$2,042,934

% of Total Expenditures

52.93%

59.72%

Purchased Services

$1,448,569

$1,192,823

% of Total Expenditures

40.60%

34.87%

All Other Expenditures

$230,703

$185,002

% of Total Expenditures

6.47%

5.41%

 

 

 

TOTAL NET ASSETS

$475,872

$478,352

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$85,590

 

$72,410

 

 

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

 

 

REGIONAL SUPERINTENDENT

During Audit Period:Honorable P.E. Cross

Currently:Honorable P.E. Cross


 

 

 

 

 

 

 

 

 

 

 

 

The Regional Office of Education #25 did not examine at least once each year all books, accounts, and vouchers of every school treasurer in its educational service region.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINDINGS, CONCLUSIONS AND RECOMMENDATIONS

 

CONTROLS OVER COMPLIANCE WITH LAWS AND REGULATIONS

 

††† †††††† The Illinois School Code (105 ILCS 5/3-14.11) requires the Regional Superintendent to examine at least once each year all books, accounts, and vouchers of every school treasurer in his educational service region, and if he finds any irregularities in them, to report them at once, as directed by the School Code.

 

†††††††††† The Regional Office did not examine at least once each year all books, accounts, and vouchers of every school treasurer in the educational service region.Regional Office officials noted they believe the mandate is outdated and that they are satisfying the intent of the statute by other reviews they undertake.This mandate has existed in its current form since at least 1953. (Finding 05-1, page 12)

 

†††††††††† The Regional Office accepted the recommendation, noting it will seek a legislative solution to this and other obsolete passages.

 

 

AUDITORSí OPINION

 

††††† Our auditors state the Regional Office of Education #25ís financial statements as of June 30, 2005 are fairly presented in all material respects.

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KJM:ro

 

 

SPECIAL ASSISTANT AUDITORS

 

††††††† Our special assistant auditors were Kemper CPA Group, LLP