REPORT DIGEST REGIONAL OFFICE OF EDUCATION #45 FINANCIAL AUDIT (In Accordance with the 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
Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL To obtain a copy of the
Report contact: Office of the Auditor
General
(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 #45’s 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
FINANCIAL AUDIT
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 |