REPORT DIGEST

 

 

UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

 

 

FINANCIAL AUDIT

 

For the Year Ended:

June 30, 2003

 

 

 

 

 

Release Date:

January 28, 2004

 

 

 

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 TDD (217) 524-4646

 

 

This Report Digest is also available on

the worldwide web at

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

 

 

 

AUDITORSí OPINION

Our auditors stated the Alumni Associationís
June 30, 2003 financial statements are fairly presented
in all material respects.

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KMA:pp

 

 

SPECIAL ASSISTANT AUDITORS

Our special assistant auditors were Clifton Gunderson LLP.

 

                                  UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

                                                          FINANCIAL AUDIT

                                                For The Year Ended June 30, 2003

 

FINANCIAL OPERATIONS (All Funds)

FY 2003

FY 2002

OPERATING REVENUES

 

OPERATING EXPENSES

Operating income

 

NONOPERATING REVENUES (EXPENSES)

Investment income

Contributions

Net increase (decrease) in fair value of investments

    Net nonoperating revenues (expenses)

    Increase (decrease) in net assets

 

NET ASSETS, beginning of year

 

NET ASSETS, end of year

$6,987,079

 

$6,787,451

$199,628

 

 

$310,769

$(227,983)

$44,709

$127,495

$327,123

 

$12,606,366

 

$12,933,489

$7,238,623

 

$6,678,051

$560,572

 

 

$370,134

 

$(1,441,446)

$(1,071,312)

$(510,740)

 

$13,117,106

 

$12,606,366

OTHER SIGNIFICANT ACCOUNT BALANCES

At June 30,

2003

At June 30,

2002

Cash and Investments

Total Assets

Deferred Revenues

Total Liabilities

Total Net Assets

$13,145,421

$14,462,698

$1,219,608

$1,529,209

$12,933,489

$11,991,148

$12,981,396

$40,089

$375,030

$12,606,366

ALUMNI ASSOCIATION PRESIDENT

 

 

During Audit Period: Mr. Loren R. Taylor

Currently: Mr. Loren R. Taylor