REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #45

 

MONROE AND RANDOLPH 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† †††††††††††     1

Repeated from last audit   0

 

 

Release Date:

March 25, 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.

 

 

 

 

AUDITORSí OPINION

 

†††††††† Our auditors state the Regional Office of Education #45ís financial statements as of June 30, 2007 are fairly presented in all material respects.

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:JB

 

 

SPECIAL ASSISTANT AUDITORS

 

††††††††† Our special assistant auditors were J.W. Boyle & Co., LTD.

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

REGIONAL OFFICE OF EDUCATION #45

MONROE AND RANDOLPH 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

$1,296,127

$1,277,776

Local Sources

$417,657

$372,588

% of Total Revenues

32.22%

29.16%

State Sources

$658,681

$637,664

% of Total Revenues

50.82%

49.90%

Federal Sources

$219,789

$267,524

% of Total Revenues

16.96%

20.94%

 

TOTAL EXPENDITURES

$1,292,013

$1,286,883

Salaries and Benefits

$958,233

$960,749

% of Total Expenditures

74.17%

74.66%

Purchased Services

$228,719

$244,185

% of Total Expenditures

17.70%

18.97%

All Other Expenditures

$105,061

$81,949

% of Total Expenditures

8.13%

6.37%

 

 

 

TOTAL NET ASSETS

$760,338

$751,487

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$47,128

 

$61,730

 

 

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

 

REGIONAL SUPERINTENDENT

During Audit Period: Honorable Marc Kiehna

Currently: Honorable Marc Kiehna