REPORT DIGEST
ILLINOIS STATE BOARD OF INVESTMENTS
FINANCIAL AUDIT
For the Year Ended: June 30, 2011
Release Date: January 5, 2012
Summary of Findings:
Total this audit: 0
Total last audit: 0
Repeated from last audit: 0
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 www.auditor.illinois.gov
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INTRODUCTION
This digest covers our audit of the Illinois State Board of
Investment financial statements for the year ended June 30, 2011. A report on the results of our compliance
attestation examination for the year ended June 30, 2011 is being issued
separately.
Pursuant to the Illinois Pension Code, the Illinois State
Board of Investment (Board) manages the investments of the State Employees’
Retirement System, General Assembly Retirement System and the Judges’
Retirement System.
MEMBER SYSTEM WITHDRAWALS
During fiscal year 2011 the member systems’ withdrawals from
the Board increased $280.8 million from $661.0 million during fiscal year 2010
to $941.8 million during fiscal year 2011.
Withdrawals are determined by the member retirement systems based on the
State’s funding and the systems’ benefit payment needs. Total member systems’ net withdrawals since
inception of the Illinois State Board of Investment total approximately $1.75
billion.
AUDITORS’ OPINION
Our auditors state the June 30, 2011 financial statements of
the Illinois State Board of Investment are fairly presented.
WILLIAM G. HOLLAND
Auditor General
WGH:TLK
SPECIAL ASSISTANT AUDITORS
McGladrey & Pullen LLP were
our Special Assistant Auditors for this engagement.
{Expenditures and Activity Measures are summarized on the reverse page.}