REPORT DIGEST

SOUTHERN ILLINOIS UNIVERSITY FOUNDATION AT CARBONDALE

COMPLIANCE EXAMINATION

For the Two Years Ended:

June 30, 2005

AND

FINANCIAL AUDIT

For the Year Ended:

June 30, 2005

Summary of Findings:

Total this audit                          0

Total last audit                          0

Repeated from last audit           0

Release Date:

 March 23, 2006

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.state.il.us/auditor

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

      There were no material compliance findings disclosed during our examination.  We commend the Foundation for maintaining effective fiscal controls.

AUDITORS’ OPINION

      Our auditors stated the June 30, 2005 financial statements of the Foundation 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.

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2005

FY 2004

REVENUE

Operating revenues...........................................................

$3,658,646

$3,822,459

EXPENSES

Operating expenses...........................................................

16,592,000

14,961,034

Operating loss.............................................................

($12,933,354)

($11,138,575)

NONOPERATING REVENUES

Contributions....................................................................

$7,907,611

$5,995,959

Grants from SIU and University Related Organizations.......

295,693

5,737,678

Investment income.............................................................. .............................................................................................

7,314,494

8,461,314

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

360,565

458,747

Net nonoperating revenues..........................................

$15,878,363

$20,653,698

Income before other revenues, expenses, gains and losses.........................................................................

$2,945,009

$9,515,123

Contributions for capital assets..........................................

$922,260

$5,813,468

Additions to permanent endowments.................................

3,945,260

2,703,350

Increase in net assets...................................................

$7,812,529

$18,031,941

NET ASSETS

Net assets-beginning of year..............................................

$92,239,487

$74,207,546

Net Assets-end of year.....................................................

$100,052,016

$92,239,487

OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30, 2005

AT JUNE 30, 2004

Cash and Investments............................................................

$97,380,573

$88,480,846

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

$107,065,322

$98,699,258

Annuities Payable..................................................................

$3,722,455

$3,408,950

Agency Funds Payable..........................................................

$1,756,565

$1,672,229

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

$7,013,306

$6,459,771

Net Assets – Restricted-Nonexpendable...............................

$53,926,413

$46,918,133

Net Assets – Restricted-Expendable......................................

$38,038,374

$38,652,300

Total Net Assets.................................................................

$100,052,016

$92,239,487

MANAGING DIRECTOR

During Audit Period:  Mr. Bryan Vagner

Currently:  Mr. Bryan Vagner