REPORT DIGEST

 

 

UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

 

 

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

 

 

 

 

 

Release Date:

November 16, 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

 

The Report Digest and Full Report are also available on

the worldwide web at

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

 

 

 

 

 

 

 

 

AUDITORSí OPINION

 

††††† Our auditors stated the Alumni Associationís June 30, 2006 financial statements are fairly presented in all material respects.Our compliance examination for the two years ending June 30, 2006 will be released at a later date.

 

 

 

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

 

 

WGH:TLK: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, 2006

 

FINANCIAL OPERATIONS (All Funds)

FY 2006

FY 2005

OPERATING REVENUES.................................................

 

OPERATING EXPENSES...................................................

††††† Operating income..............................................................

 

NONOPERATING REVENUES (EXPENSES)

††††† Investment income.............................................................

††††† Interest expense.................................................................

††††† Contributions.....................................................................

††††† Net increase in fair value of investments..............................

††††††††††† Net nonoperating (expenses)........................................

††††††††††† Increase (decrease) in net assets..................................

 

NET ASSETS, beginning of year.........................................

 

NET ASSETS, end of year...................................................

$9,112,700

 

8,727,000

$385,700

 

 

$316,700

(69,500)

(6,949,600)

1,141,400

$(5,561,000)

($5,175,300)

 

$16,069,800

 

$10,894,500

$8,121,700

 

7,235,400

$886,300

 

 

$279,700

0

(1,362,600)

1,024,200

$(58,700)

$827,600

 

$15,242,200

 

$16,069,800

 

OTHER SIGNIFICANT ACCOUNT BALANCES

At June 30,

2006

At June 30,

2005

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

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

Deferred Revenues..................................................................

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

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

$16,170,200

17,244,600

769,800

6,350,100

$10,894,500

$16,001,300

17,152,800

754,400

1,083,000

$16,069,800

ALUMNI ASSOCIATION PRESIDENT

 

 

During Audit Period:Mr. Loren R. Taylor

Currently:Mr. Loren R. Taylor