REPORT DIGEST

RAILSPLITTER TOBACCO SETTLEMENT AUTHORITY

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION
FOR THE TWO YEARS ENDED JUNE 30, 2016

Release Date:  February 16, 2017

FINDINGS THIS AUDIT:  0
FINDINGS LAST AUDIT: 0

State of Illinois, Office of the Auditor
General
FRANK J. MAUTINO, 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
www.auditor.illinois.gov

INTRODUCTION

The Railsplitter Tobacco Settlement
Authority (Authority) was established on
July 1, 2010, as a special purpose
corporation to sell revenue bonds,
repayment of which is supported solely by
future tobacco settlement revenues (TSRs)
(pledged revenues).  The Authority
received no appropriations from the
General Assembly and its funds were not
held within the State Treasury.

There were no material findings of
noncompliance disclosed during our
examination.

AUDITORS' OPINIONS

The auditors stated the Authority’s
financial statements as of and for the
years ended June 30, 2015, and June 30,
2016, are fairly stated in all material
respects.

ACCOUNTANTS' OPINION

We conducted a compliance examination of
the Authority for the two years ended June
30, 2016, as required by the Illinois
State Auditing Act.  The accountants
stated the Authority complied, in all
material respects, with the requirements
described in the report during the two
years ended June 30, 2016.

FRANK J. MAUTINO
Auditor General

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AUDITORS ASSIGNED

This audit was performed by the Office of
the Auditor General’s staff.