REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #50

 

ST. CLAIR COUNTY

 

FINANCIAL AUDIT

(In accordance with the

Single Audit Act and

OMB Circular A-133)

 

For the Year Ended:

June 30, 2008

 

Summary of Findings:

 

Total this audit                    0

Total last audit                    0

Repeated from last audit†††† 0

 

Release Date:

April 30, 2009

 

 

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 Final Report are 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, 2008.

 

 

 

 

AUDITORSí OPINION

 

†††††††† Our auditors state the Regional Office of Education #50ís financial statements as of June 30, 2008 are fairly presented in all material respects.

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:JRB

 

 

 

 

SPECIAL ASSISTANT AUDITORS

 

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

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

REGIONAL OFFICE OF EDUCATION #50

ST. CLAIR COUNTY

 

 

FINANCIAL AUDIT

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

For The Year Ended June 30, 2008

 

 

 

FY 2008

FY 2007

TOTAL REVENUES

$6,916,205

$6,195,222

Local Sources

$806,485

$709,415

% of Total Revenues

11.66%

11.45%

State Sources

$3,416,438

$3,116,195

% of Total Revenues

49.40%

50.30%

Federal Sources

$2,693,282

$2,369,612

% of Total Revenues

38.94%

38.25%

 

TOTAL EXPENDITURES

$6,870,700

$6,126,830

Salaries and Benefits

$3,980,867

$3,888,768

% of Total Expenditures

57.94%

63.47%

Purchased Services

$1,973,002

$1,445,909

% of Total Expenditures

28.72%

23.60%

All Other Expenditures

$916,831

$792,153

% of Total Expenditures

13.34%

12.93%

 

TOTAL NET ASSETS

$1,830,805

$1,785,346

 

INVESTMENT IN CAPITAL ASSETS

$192,440

$219,975

 

Percentages may not add due to rounding.

 

 

REGIONAL SUPERINTENDENT

During Audit Period:Honorable Brad J. Harriman

Currently:Honorable Brad J. Harriman