REPORT DIGEST

THE ASSOCIATION OF ALUMNI, FORMER STUDENTS AND FRIENDS OF SOUTHERN ILLINOIS UNIVERSITY (CARBONDALE)

FINANCIAL AUDIT

For the Year Ended:

June 30, 2002

Release Date:
February 27, 2003

logo.jpg (8630 bytes)

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
Attn: Records Manager
Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703

(217)782-6046 or TDD (217) 524-4646

This Report Digest is also available on
the worldwide web at
http://www.state.il.us/auditor

  

 

INTRODUCTION

This digest covers our financial audit of the Association of Alumni, Former Students and Friends of Southern Illinois University (Carbondale) for the year ended June 30, 2002. A compliance audit covering the two years ended June 30, 2003 will be issued at a later date.

 

AUDITORS’ OPINION

Our auditors stated the June 30, 2002 financial statements of the Alumni Association are fairly presented in all material respects.

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KAL :pp

 

 

SPECIAL ASSISTANT AUDITORS

Kerber, Eck & Braeckel LLP were our special assistant auditors for this audit.

 

 

THE ASSOCIATION OF ALUMNI, FORMER STUDENTS AND FRIENDS OF
SOUTHERN ILLINOIS UNIVERSITY (CARBONDALE)
FINANCIAL AUDIT
For The Year Ended June 30, 2002

FINANCIAL OPERATIONS (ALL FUNDS)

FY2002

FY2001*
Support From University

$664,617

$680,323
Support From Foundation

134,000

134,000
Royalties

386,128

357,143
Dues and Life Memberships

240,434

307,713
All Other Revenues

3,314

182,169
Total Revenue

$1,428,493

$1,661,348
EXPENSES
Budget expended at SIU

$664,617

$680,323
Alumni Communications

277,504

308,979
Loss on Investments

105,097

229,626
All Other Expenses

224,035

476,551
Total Expenses

$1,271,253

$1,695,479
OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30, 2002

AT JUNE 30, 2001
Cash and Investments

$3,115,038

$3,090,358
Affinity Credit Card Advance

$0

$689,286
Deferred Revenue

$610,252

$80,207
Net Assets - Unrestricted

$2,455,301

N/A
Fund Balances – Designated

N/A

$1,089,129
Fund Balances – Undesignated

N/A

$1,399,692
* The FY2001 figures have not been restated to reflect the implementation of GASB statements #35, 37 and 38.
ALUNNI ASSOCIATION DIRECTOR
During Audit Period: Mr. Edward Buerger
Currently: Mr. Edward Buerger