REPORT DIGEST

UNIVERSITY OF ILLINOIS HMO, INC.

FINANCIAL AUDIT

For the Year Ended:

December 31, 2000

Release Date:
May 24, 2001

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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

 

 

INTRODUCTION

This report is limited to our financial audit of the University of Illinois HMO, Inc. for the year ended December 31, 2000.

On September 20, 2000, the UIHMO Board of Directors approved the dissolution of the UIHMO to become effective August 31, 2001. All remaining assets and liabilities will be assumed by the University of Illinois Hospital. We will perform a final audit of the UIHMO as of August 31, 2001.

AUDITORS' OPINION

Our auditors stated the UIHMO, Inc.'s statutory financial statements at December 31, 2000 are presented fairly in all material respects.

 

 

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

 

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SPECIAL ASSISTANT AUDITORS

Olive LLP were our special assistant auditors for this audit.


 

UNIVERSITY OF ILLINOIS HMO, INC.
FINANCIAL AUDIT
For The Years Ended December 31, 2000

OPERATIONS

2000

1999

Revenues -

Premiums
Investments
Total Revenues

Expenses -

Health care
Administration
Total Expenses
Net Income

 

$8,839,126
258,354
$9,097,480

 

$7,174,137
1,619,854
$8,793,991
$303,489

 

$14,948,380
204,852
$15,153,232

 

$12,520,023
2,423,537
$14,943,560
$209,672

BALANCE SHEET ACCOUNTS AT 12-31-00

AT 12-31-99

Assets -

Cash and Short Term Investments
Property and Equipment, net
Other Assets
Total Assets

Liabilities -

Accounts and Claims Payable
Unearned Premiums
Other Liabilities

Net Worth
Total Liabilities and Net Worth

 

$3,238,186
44,427
314,404
$3,597,017

 

$ 1,477
249,119
418,563

2,927,858
$3,597,017

 

$2,993,006
64,380
312,034
$3,369,420

 

$ 21,235
273,134
269,229

2,805,822
$3,369,420

HMO PRESIDENT
During Audit Period: Diane Eng
Currently: Diane Eng