REPORT DIGEST

 

THE ALUMNI ASSOCIATION OF SOUTHERN ILLINOIS UNIVERSITY AT EDWARDSVILLE

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2004

 

 

Release Date:

January 27, 2005

 

 

 

 

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 is also available on

the worldwide web at

http://www.state.il.us/auditor

 

 

 

INTRODUCTION

 

 

      This digest covers our financial audit of the Alumni Association of Southern Illinois University at Edwardsville for the year ended June 30, 2004.  A compliance audit covering the two years ended June 30, 2005 will be issued at a later date.

 

 

 

AUDITORS’ OPINION

 

      Our auditors stated the June 30, 2004 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 ALUMNI ASSOCIATION OF

SOUTHERN ILLINOIS UNIVERSITY AT EDWARDSVILLE

FINANCIAL AUDIT

For The Year Ended June 30, 2004

 

FINANCIAL OPERATIONS (All Funds)

FY 2004

FY 2003

REVENUES

 

 

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

$287,873

$290,378

 

 

 

EXPENSES

 

 

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

$284,530

$284,063

 

 

 

            Operating income...........................................

$3,343

$6,315

 

 

 

NONOPERATING REVENUES (EXPENSES)

 

 

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

$35

$75

      Interest................................................................

$6,593

$5,591

      Net change in fair value of investments..................

$18,931

($2,239)

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

$25,559

$3,427

 

 

 

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

$28,902

$9,742

 

 

 

NET ASSETS

 

 

      Net Assets – beginning of year.............................

$185,174

$175,432

 

 

 

      Net Assets – end of year......................................

$214,076

$185,174

 

 

 

OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30,

2004

AT JUNE 30,

2003

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

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

Deferred Revenue.......................................................

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

Net Assets – Invested in capital assets.........................

Net Assets – Unrestricted...........................................

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

$261,850

$266,024

$37,660

$51,948

$1,992

$212,084

$214,076

$216,031

$228,447

$38,400

$43,273

$3,079

$182,095

$185,174

EXECUTIVE DIRECTOR

During the audit:  Mr. Remy Billups

Currently:  Mr. Remy Billups