REPORT DIGEST

 

THE ALUMNI ASSOCIATION OF SOUTHERN ILLINOIS UNIVERSITY AT EDWARDSVILLE

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

 

 

 

 

 

 

Release Date:

February 8, 2007 

 

 

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

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, 2006.  A compliance audit covering the two years ended June 30, 2007 will be issued at a later date.

 

 

 

AUDITORS’ OPINION

 

      Our auditors stated the June 30, 2006 financial statements of the Alumni Association are fairly presented in all material respects.

 

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KAL :pp

 

 

 

 

 

SPECIAL ASSISTANT AUDITORS

 

      Crowe Chizek and Company, LLC 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, 2006

 

FINANCIAL OPERATIONS (All Funds)

FY 2006

FY 2005

REVENUES

 

 

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

$193,299

$261,993

 

 

 

EXPENSES

 

 

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

191,619

249,876

 

 

 

            Operating revenue in excess of expenses.........

$1,680

$12,117

 

 

 

NON-OPERATING REVENUES

 

 

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

$50

$100

      Investment Income...............................................

8,160

8,756

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

8,918

6,687

            Total non-operating revenue...........................

$17,128

$15,543

 

 

 

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

$18,808

$27,660

 

 

 

NET ASSETS

 

 

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

$241,736

$214,076

 

 

 

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

$260,544

$241,736

 

 

 

OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30,

2006

AT JUNE 30,

2005

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

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

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

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

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

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

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

$343,902

$348,708

$73,327

$88,164

$0

$260,544

$260,544

$299,070

$316,999

$60,230

$75,263

$906

$240,830

$241,736

EXECUTIVE DIRECTOR

During the audit:  Mr. Remy Billups (through July 12, 2005)

Currently:  Mr. Steve Jankowski (from December 4, 2006)