REPORT DIGEST UPPER ILLINOIS RIVER VALLEY DEVELOPMENT AUTHORITY SPECIAL LIMITED SCOPE COMPLIANCE EXAMINATION For the Two Years Ended: June 30, 2011 Release Date: July 10, 2012 Summary of Findings: Total this audit: 0 Total last audit: 0 Repeated from last audit: 0 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 www.auditor.illinois.gov INTRODUCTION The Upper Illinois River Valley Development Authority (Authority) is a general development agency for the counties of Bureau, Grundy, Kane, Kendall, LaSalle, Marshall, McHenry, and Putnam and is one of ten regional development authorities within the State of Illinois. The Authority has the ability to issue up to $500 million in bonds on behalf of manufacturing firms to encourage the creation of jobs. With the Governor’s approval, the Authority could issue Moral Obligation Bonds backed by the State of Illinois until August 11, 2011. Our special limited scope compliance examination was restricted to appropriations made by the Illinois General Assembly to the Authority from the General Revenue Fund and related expenditures. AUDITOR’S OPINION We conducted a special limited scope compliance examination of appropriations made by the General Assembly to the Authority and expenditures from State funds as authorized by the Illinois State Auditing Act. WILLIAM G. HOLLAND Auditor General WGH:lkw:rt AUDITORS ASSIGNED This examination was conducted by staff of the Office of the Auditor General.