REPORT DIGEST

REGIONAL OFFICE OF EDUCATION #28

BUREAU/HENRY/STARK COUNTIES

FINANCIAL AUDIT

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

For the Year Ended:

June 30, 2004

Summary of Findings:

Total this audit                          1

Total last audit                          0

Repeated from last audit           0

Release Date:

June 7, 2005

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 is also available on

the worldwide web at

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

SYNOPSIS

·        The Regional Office of Education #28 did not submit required reports to the county by the January 1, 2004 deadline.

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

FY 2004

FY 2003

TOTAL REVENUES

$2,275,425

$1,694,582

Local Sources

$554,360

$467,113

% of Total Revenues

24.36%

27.57%

State Sources

$539,403

$1,038,037

% of Total Revenues

23.71%

61.26%

Federal Sources

$1,181,662

$189,432

% of Total Revenues

51.93%

11.18%

TOTAL EXPENDITURES

$2,244,123

$1,733,131

Salaries and Benefits

$563,829

$466,841

% of Total Expenditures

25.12%

26.94%

Purchased Services

$221,242

$273,316

% of Total Expenditures

9.86%

15.77%

All Other Expenditures

$1,459,052

$992,974

% of Total Expenditures

65.02%

57.29%

TOTAL NET ASSETS¹

$298,935

$267,633

INVESTMENT IN CAPITAL ASSETS¹

$104,429

$107,636

1         In fiscal year 2004, Regional Offices of Education implemented Government Accounting Standards Board (GASB) Statement No. 34 which established a new financial reporting model for state and local governments.  Government-wide financial statements are prepared using full accrual accounting that reports Total Net Assets.    The fiscal year 2003 ending general fixed assets have been restated to reflect the changes required as part of the implementation of GASB Statement No. 34.

              Percentages may not add due to rounding.

REGIONAL SUPERINTENDENT 

During Audit Period:  Honorable Bruce Dennison

Currently:  Honorable Bruce Dennison

The Regional Office of Education #28 did not submit required reports to the county by the January 1, 2004 deadline.

FINDINGS, CONCLUSIONS AND RECOMMENDATIONS

COMPLIANCE WITH STATUTORY REQUIREMENT

        The Regional Office of Education #28 did not comply with a statutory administrative requirement.  The Illinois School Code (105 ILCS 5/3-6) requires the Regional Superintendent to report, in writing, to the county board on or before January 1 of each year, stating:  (1) the balance on hand at the time of the last report, and all receipts since that date, with the sources from which they were derived; (2) the amount distributed to each of the school treasurers in his or her county; and (3) any balance on hand.  The Regional Superintendent is also required to submit, in writing, to the county board a statement of the condition of the Institute Fund and of any other funds in his or her care, custody, or control. 

        The Regional Office did not submit the required reports to the county by the January 1, 2004 deadline.  According to Regional Office management, they had never been told to perform these functions (Finding 04-1, page 15).

       The Regional Office of Education #28 accepted the recommendation to submit the required reports. 

AUDITORS’ OPINION

      Our auditors state the Regional Office of Education #28’s financial statements as of June 30, 2004 are fairly presented in all material respects.

_____________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

        Our special assistant auditors were Ginoli & Company LTD.