REPORT DIGEST

 

SOUTHERN ILLINOIS UNIVERSITY

 

FINANCIAL STATEMENT AUDIT

For the Year Ended:

June 30, 2008

 

 

 

 

Release Date:

February 19, 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 the Full Report are also available on

the worldwide web at

http://www.auditor.illinois.gov

 

INTRODUCTION

 

††††† This report covers the Financial Audit of Southern Illinois University for the year ended June 30, 2008 including its Housing and Auxiliary Facilities System and Medical Facilities System.This report does not contain any findings.Findings related to the State Compliance Examination and the Single Audit will be issued at a later date.

 

 

AUDITORSí OPINION

 

††††† Our auditors stated the financial statements of the University as of June 30, 2008 and for the year then ended are fairly presented in all material respects.

 

 

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KMA:pp

 

 

SPECIAL ASSISTANT AUDITORS

 

††††† Crowe Horwath LLP were our special assistant auditors for this audit.

 

 

 

 

 

 

 

 

{Expenditures and Activity Measures are summarized on the reverse page.}

 

 


                                              SOUTHERN ILLINOIS UNIVERSITY

                                                FINANCIAL STATEMENT AUDIT

                                            FOR THE YEAR ENDED JUNE 30, 2008

 

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS

 
FY2008
 
FY2007

OPERATING REVENUES

    Student tuition and fees...........................................

... Auxiliary enterprises..........................................................................

    Grants and contracts...............................................

    Sales and services of educational activities...............

    Other.....................................................................

         Total Operating Revenues.............................

OPERATING EXPENSES

    Instruction..............................................................

    Research...............................................................

    Public services.......................................................

    Academic support...................................................

    Student services.....................................................

    Institutional support.................................................

    Operation and maintenance of plant.........................

    Scholarships and fellowships....................................

    Auxiliary enterprises...............................................

    Depreciation...........................................................

Other....................................................................

Total Operating Expenses.................................

Operating Loss........................................................

NON-OPERATING REVENUES (EXPENSES)

    State appropriations................................................

    Payments on behalf of the University.......................

    Other non-operating revenues (expenses), net..........

      Net Non-operating Revenues ..........................

Income (Loss) Before Capital Contributions..........

     Capital appropriations, additions to endowments and capital grants

       and gifts........................................................................................

INCREASE IN NET ASSETS.................................

Net assets, beginning of the year..................................

Net assets, end of the year..........................................................

 

 

$207,141,669

95,190,509

93,855,788

60,638,746

42,290,179

$499,116,891

 

$273,275,474

58,343,488

60,083,154

125,357,888

61,419,481

58,097,621

75,374,645

24,241,476

87,621,293

36,393,289

570,824

$860,778,633

($361,661,742)

 

$227,184,099

122,396,302

37,421,596

$387,001,997

$25,340,255

 

$14,771,583

$40,111,838

$426,137,436

$466,249,274

 

$182,140,804

83,367,711

89,604,596

52,529,185

39,603,670

$447,245,966

 

$259,860,902

57,700,962

56,378,043

112,268,877

55,192,637

54,640,752

65,398,396

19,159,776

77,328,543

34,958,458

350,826

$793,238,172

($345,992,206)

 

$223,149,103

106,525,874

34,315,848

$363,990,825

$17,998,619

 

$32,650,797

$50,649,416

$375,488,020

$426,137,436

SELECTED ACCOUNT BALANCES

JUNE 30, 2008

JUNE 30, 2007

Cash and investments..................................................

Capital assets, net of accumulated depreciation.............

Total Assets.............................................................

Revenue bonds, certificates of participation and capital lease obligations....................................................

Accrued compensated absences..................................

Total Liabilities........................................................

Net assets................................................................

$258,508,434

$605,188,397

$938,404,694

 

$290,316,366

$47,967,312

$472,155,420

$466,249,274

$221,463,550

$572,516,218

$868,278,645

 

$270,661,078

$46,820,844

$442,141,209

$426,137,436

UNIVERSITY PRESIDENT

During Audit Period: Dr. Glenn Poshard

Currently: Dr. Glenn Poshard