REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #54

 

VERMILION COUNTY

 

FINANCIAL AUDIT

 

For the Year Ended:

June 30, 2008

 

Summary of Findings:

 

Total this audit††††††††††††††††††††††† 0

Total last audit††††††††††††††††††††††† 1

Repeated from last audit†††††††  0

 

Release Date:

June 11, 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 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, 2008.

 

 

 

 

AUDITORSí OPINION

 

†††††††† Our auditors state the Regional Office of Education #54ís financial statements as of June 30, 2008 are fairly presented in all material respects.

 

 

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KJM

 

 

 

 

SPECIAL ASSISTANT AUDITORS

 

†††††††† Our special assistant auditors were West & Company, LLC.

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

REGIONAL OFFICE OF EDUCATION # 54

VERMILION COUNTY

 

FINANCIAL AUDIT

For The Year Ended June 30, 2008

 

 

 

FY 2008

FY 2007

TOTAL REVENUES

$683,667

$606,071

Local Sources

$147,330

$141,218

% of Total Revenues

21.55%

23.30%

State Sources

$509,214

$440,322

% of Total Revenues

74.48%

72.65%

Federal Sources

$27,123

$24,531

% of Total Revenues

3.97%

4.05%

 

TOTAL EXPENDITURES

$688,748

$622,095

Salaries and Benefits

$307,931

$270,138

% of Total Expenditures

44.71%

43.42%

Purchased Services

$61,147

$57,180

% of Total Expenditures

8.88%

9.19%

All Other Expenditures

$319,670

$294,777

% of Total Expenditures

46.41%

47.38%

 

TOTAL NET ASSETS

$117,373

$122,454

 

INVESTMENT IN CAPITAL ASSETS

$1,004

$0

 

Percentages may not add due to rounding.

 

 

REGIONAL SUPERINTENDENT

During Audit Period: Honorable Michael Metzen

Currently:Honorable Michael Metzen