REPORT DIGEST

ILLINOIS STATE BOARD OF INVESTMENTS

FINANCIAL AUDIT
FOR THE YEAR ENDED: JUNE 30, 2012



Release Date:  December 20, 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

INTRODUCTION

This digest covers our financial audit of the Illinois
State Board of Investment financial statements for the
year ended June 30, 2012.  A report on the results of
our compliance attestation examination for the year
ended June 30, 2012 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 2012 the member systems’ withdrawals
from the Board decreased $693.1 million from $941.8
million during fiscal year 2011 to $248.7 million during
fiscal year 2012.  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 $1.997
billion.

AUDITORS’ OPINION

Our auditors state the June 30, 2012 financial
statements of the Illinois State Board of Investment are
fairly presented.

WILLIAM G. HOLLAND
Auditor General
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SPECIAL ASSISTANT AUDITORS

McGladrey LLP was our Special Assistant Auditors for
this engagement.