REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #47

 

LEE AND OGLE 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††††††††††††       † 4

Repeated from last audit      0

 

Release Date:

October 22, 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 #47ís 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 Prado & Renteria, CPAs.

 

 

 

 

 

 

 

 

 

 

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


 

†††††††††††††††††††††††††††††††††††††††††††††† REGIONAL OFFICE OF EDUCATION #47

†††††††† LEE AND OGLE 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

$2,432,858

$2,064,727

Local Sources

$560,665

$469,355

% of Total Revenues

23.05%

22.73%

State Sources

$1,184,500

$821,698

% of Total Revenues

48.69%

39.80%

Federal Sources

$687,693

$773,674

% of Total Revenues

28.27%

37.47%

 

TOTAL EXPENDITURES

$2,340,278

$2,000,478

Salaries and Benefits

$958,368

$798,140

% of Total Expenditures

40.95%

39.90%

Purchased Services

$678,909

$648,897

% of Total Expenditures

29.01%

32.44%

All Other Expenditures

$703,001

$553,441

% of Total Expenditures

30.04%

27.67%

 

 

 

TOTAL NET ASSETS

$479,500

$386,920

 

 

 

INVESTMENT IN CAPITAL ASSETS

 

$70,058

 

$85,203

 

Percentages may not add due to rounding.

 

 

REGIONAL SUPERINTENDENT

During Audit Period: Honorable Amy Jo Clemens

Currently:Honorable Amy Jo Clemens