REPORT DIGEST

 

REGIONAL OFFICE OF EDUCATION #55

 

WHITESIDECOUNTY

 

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 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 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 #55ís 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

WHITESIDE COUNTY

 

 

FINANCIAL AUDIT

For The Year Ended June 30, 2008

 

 

 

FY 2008

FY 2007

TOTAL REVENUES

$1,430,556

$1,341,700

Local Sources

$107,489

$111,255

% of Total Revenues

7.51%

8.29%

State Sources

$1,039,286

$956,638

% of Total Revenues

72.65%

71.30%

Federal Sources

$283,781

$273,807

% of Total Revenues

19.84%

20.41%

 

TOTAL EXPENDITURES

$1,393,852

$1,386,463

Salaries and Benefits

$1,033,290

$1,071,195

% of Total Expenditures

74.13%

77.26%

Purchased Services

$224,500

$211,615

% of Total Expenditures

16.11%

15.26%

All Other Expenditures

$136,062

$103,653

% of Total Expenditures

9.76%

7.48%

 

TOTAL NET ASSETS

$332,932

$296,228

 

INVESTMENT IN CAPITAL ASSETS

$57,020

$63,605

 

Percentages may not add due to rounding.

 

 

REGIONAL SUPERINTENDENT

During Audit Period: Honorable Gary Steinert

Currently:Honorable Gary Steinert