REPORT DIGEST

 

UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

 

 

COMPLIANCE EXAMINATION

For the Two Years Ended:

June 30, 2008

 

Summary of Findings:

Total this audit††††††††††††     † 0

Total last audit†††††††††††††      2

Repeated from last audit    0

 

Release Date:

January 22, 2009

 

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.auditor.il.gov

 

 

 

 

 

 

 

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

 

††††† There were no material findings of noncompliance disclosed during our compliance examination.

 

 

AUDITORSí OPINION

 

††††† Our financial statement audit for the year ended June 30, 2008 was previously issued.Our auditors stated the Alumni Associationís June 30, 2008 financial statements are fairly presented in all material respects.

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:TLK:PP

 

SPECIAL ASSISTANT AUDITORS

 

††††† Our special assistant auditors were Clifton Gunderson LLP.

 

 

 

 

 

 

 

 

 

 

{Expenditures and Activity Measures are summarized on the reverse page.}


UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

COMPLIANCE EXAMINATION

For The Years Ended June 30, 2008

 

FINANCIAL OPERATIONS (All Funds)

FY 2008

FY 2007

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

 

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

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

 

NONOPERATING REVENUES (EXPENSES)

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

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

††††† Contributions received.......................................................

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

††††† Net increase (decrease) in fair value of investments.............

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

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

 

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

 

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

$11,800,700

 

$10,364,500

$1,436,200

 

 

$385,000

$(334,100)

$483,200

$(148,300)

($1,473,000)

$(1,087,200)

$349,000

 

$14,315,800

 

$14,664,800

 

$10,463,700

 

$9,690,900

$772,800

 

 

$336,300

$(684,900)

$722,900

($216,100)

$2,490,300

$2,648,500

$3,421,300

 

$10,894,500

 

$14,315,800

 

 

OTHER SIGNIFICANT ACCOUNT BALANCES

At June 30,

2008

At June 30,

2007

Cash and Cash Equivalents......................................................

Investments.............................................................................

Accounts Receivable...............................................................

Property and Equipment..........................................................

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

$1,462,300

$14,879,800

$474,800

$722,900

$14,664,800

$691,200

$16,560,000

$350,900

$749,500

$14,315,800

ALUMNI ASSOCIATION PRESIDENT

 

 

During Audit Period:Mr. Loren R. Taylor

Currently:Mr. Loren R. Taylor