REPORT DIGESTREGIONAL OFFICE OF EDUCATION #55 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: Julyl 30, 2009
State of Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
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INTRODUCTION Our report covers the financial audit for the period ending June 30, 2008. AUDITORS’ OPINION Our auditors state the Regional Office of Education #55’s 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 Clifton Gunderson, LLP. {Expenditures and Revenues are summarized on the reverse page.} |
REGIONAL OFFICE OF
EDUCATION #55
FINANCIAL AUDIT
For The Year Ended June 30, 2008
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FY 2008
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FY 2007
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TOTAL REVENUES |
$1,430,556 |
$1,341,700 |
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Local Sources |
$107,489 |
$111,255 |
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% of Total Revenues |
7.51% |
8.29% |
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State Sources |
$1,039,286 |
$956,638 |
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% of Total Revenues |
72.65% |
71.30% |
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Federal Sources |
$283,781 |
$273,807 |
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% of Total Revenues |
19.84% |
20.41% |
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TOTAL EXPENDITURES |
$1,393,852 |
$1,386,463 |
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Salaries and Benefits |
$1,033,290 |
$1,071,195 |
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% of Total Expenditures |
74.13% |
77.26% |
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Purchased Services |
$224,500 |
$211,615 |
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% of Total Expenditures |
16.11% |
15.26% |
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All Other Expenditures |
$136,062 |
$103,653 |
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% of Total Expenditures |
9.76% |
7.48% |
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TOTAL NET ASSETS |
$332,932 |
$296,228 |
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INVESTMENT IN
CAPITAL ASSETS |
$57,020 |
$63,605 |
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Percentages
may not add due to rounding. |
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REGIONAL
SUPERINTENDENT |
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During Audit Period: Honorable Gary Steinert Currently: Honorable Gary Steinert |