REPORT DIGEST

 

 

 

UNIVERSITY OF ILLINOIS FOUNDATION

 

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2005

 

 

Release Date:

February 2, 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

 

 

This Report Digest is also available on

the worldwide web at

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

 

 

 

 

 

 

 

AUDITORSí OPINION

 

††††† Our auditors stated the Foundationís June 30, 2005 financial statements are fairly presented in all material respects.

 

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

 

WGH:KMA:dw

 

SPECIAL ASSISTANT AUDITORS

 

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

 

 

 

 

 

 

 

 

 

 

 


 

UNIVERSITY OF ILLINOIS FOUNDATION

FINANCIAL AUDIT

For The Year Ended June 30, 2005

 

FINANCIAL OPERATIONS (All Funds) (in thousands)

FY 2005

FY 2004

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

 

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

††††† Operating income (loss).....................................................

 

NONOPERATING REVENUES (EXPENSES)

††††† Net investment income.......................................................

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

††††† Interest on indebtedness.....................................................

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

††††††††††† Income (Loss) before other revenues, expenses, gains . ††††† ††and losses........................................................................

††††††††††† Additions to permanent endowments............................

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

 

NET ASSETS

††††† Net Assets - beginning of year...........................................

††††† Net Assets - end of year....................................................

$120,668

 

$141,143

$(20,475)

 

 

$3,175

65,700

(228)

$68,647

 

$48,172

24,445

$72,617

 

 

$862,256

$934,873

 

 

$101,144

 

$139,718

$(38,574)

 

 

$4,876

98,121

(129)

$102,868

 

$64,294

40,519

$104,813

 

 

$757,443

$862,256

 

OTHER SIGNIFICANT ACCOUNT BALANCES

††††† (in thousands)

At June 30,

2005

At June 30,

2004

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

Farms and Real Estate.............................................................

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

Accounts Payable....................................................................

Annuities Payable....................................................................

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

Net Assets - Restricted - Nonexpendable................................

Net Assets - Restricted - Expendable......................................

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

$932,959

$22,601

$1,028,183

$25,781

$50,043

$93,310

$631,778

$286,911

$934,873

$873,157

$25,103

$956,804

$29,890

$49,827

$94,548

$569,006

$279,567

$862,256

FOUNDATION PRESIDENT

 

 

During Audit Period:Dr. Sidney Micek

Currently:Dr. Sidney Micek