REPORT DIGEST

UNIVERSITY OF ILLINOIS ALUMNI ASSOCIATION

FINANCIAL AUDIT
For the Year Ended:
June 30, 1998
and
COMPLIANCE AUDIT
For the Two Years Ended:
June 30, 1998

Summary of Findings:

Total this audit 0
Total last audit 0
Repeated from last audit 0

Release Date:
May 20, 1999


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
Attn: Records Manager
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

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

There were no material findings of noncompliance disclosed during our audit tests. We commend the Alumni Association for maintaining an effective system of internal controls.
 

AUDITORS' OPINION

Our auditors stated the Alumni Association's June 30, 1998 financial statements are presented fairly.
 

____________________________________
WILLIAM G. HOLLAND, Auditor General

WGH:KMA:pp
 

SPECIAL ASSISTANT AUDITORS

Our special assistant auditors were Olive LLP.

 

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


UNVERSITY OF ILLINOIS ALUMNI ASSOCIATION
FINANCIAL AND COMPLIANCE AUDIT
For The Period Ended June 30, 1998

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1998

FY 1997

REVENUES
Annual Membership Fees
Life Membership Fees
Credit Cards, Tours, and Merchandise Sales
Investment Income
Support from University
Increase in Fair Value of Investments
Other Revenues
   Total Revenues

EXPENDITURES
Office and Administration
Membership Services
Other Expenditures
   Total Expenditures


$886,280
419,631
878,582
498,008
1,532,633
1,973,521
403,968
$6,592,623


$1,439,414
3,058,875
416,742
$4,915,031


$658,118
448,680
617,200
391,962
1,464,759
1,707,495
442,620
$5,730,834


$1,362,645
2,578,979
349,831
$4,291,455

SELECTED ASSET BALANCES (ALL FUNDS)

AT JUNE 30,
1998

AT JUNE 30,
1997

Cash and Investments
Plant and Equipment
Other Assets
    Total Assets

$14,993,638
301,277
367,716
$15,662,631

$13,876,393
294,892
323,229
$14,494,514

ASSOCIATION EXECUTIVE DIRECTOR
During Audit Period: Mr. Louis D. Liay
Currently: Mr. Loren R. Taylor