REPORT DIGEST

 

WESTERN ILLINOIS UNIVERSITY

 

FINANCIAL AND COMPLIANCE AUDIT

(In accordance with the Single Audit Act and OMB Circular A-133)

 

For the Year Ended

June 30, 2003

 

Summary of Findings:

 

Total this audit                       0

Total last audit                       0

Repeated from last audit        0

 

Release Date:

March 4, 2004

 

 

 

 

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 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 compliance findings disclosed during our audit tests. We commend the University for maintaining effective fiscal controls.

 

 

AUDITORSí OPINION

Our auditors state the financial statements of Western Illinois University as of June 30, 2003, and for the year then ended, are fairly presented in all material respects.

 

 

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KMA:pp

 

SPECIAL ASSISTANT AUDITORS

Washington, Pittman & McKeever, LLC were our special assistant auditors for this audit.

 

 

 

{Financial Information is summarized on the reverse page.}

 

                                          WESTERN ILLINOIS UNIVERSITY

                                      FINANCIAL AND COMPLIANCE AUDIT

                                              For the Year Ended June 30, 2003

 

FINANCIAL OPERATIONS

FY 2003

FY 2002

OPERATING REVENUES

       Tuition and fees, net

       Auxiliary enterprises, net

       Grants and controls

       Other

              Total Operating Revenues

OPERATING EXPENSES

       Instruction

       Research

       Public service

       Academic support

       Student services

       Institutional support

       Operation and maintenance of plant

       Student aid

       Auxiliary enterprises

       Depreciation

       Other

              Total Operating Expenses

Operating Income (Loss)

NONOPERATING REVENUES (EXPENSES)

       State appropriations

       Capital appropriations

       Interest on capital assets - related debt

       Investment income

       Other

INCREASE IN NET ASSETS

Net assets, beginning of year (restated)

Net assets, end of year

 

$39,722,720

41,771,909

22,457,224

7,889,187

$111,841,040

 

$48,942,184

7,473,664

9,537,462

11,812,515

14,062,918

9,311,451

11,892,020

5,144,641

35,103,676

9,429,371

26,057,566

$188,767,468

$(76,926,428)

 

$81,669,728

3,200,708

(2,718,469)

343,215

35,582

$5,604,336

$82,381,827

$87,986,163

 

$34,216,328

39,354,042

22,101,821

11,315,166

$106,987,357

 

$49,106,545

8,097,846

8,297,367

12,368,458

13,697,961

15,870,664

10,763,227

5,302,335

34,438,211

8,168,989

27,427,942

$193,539,545

$(86,552,188)

 

$84,847,435

8,916,108

(2,740,048)

699,394

64,834

$5,235,535

$77,146,292

$82,381,827

SELECTED ACCOUNT BALANCES

June 30, 2003

June 30, 2002

Cash and Investments

Capital Assets, net of accumulated depreciation

Accrued Compensated Absences

Revenue Bonds Payable

$55,971,585

$120,797,201

$19,262,214

$55,595,402

$57,400,644

$118,248,453

$21,046,397

$57,686,123

SUPPLEMENTAL INFORMATION

FY 2003

FY 2002

Employment Statistics

Faculty and Administrative

1,050

1,059

Civil Service

849

856

Student Employees

334

332

Total Employees

2,233

2,247

Enrollment Statistics

Fall term enrollment - undergraduate

10,440

10,112

Fall term enrollment -graduate

1,972

1,964

Fall term enrollment - extension

1,049

1,130

Full-time equivalent cost per student

$8,349

$8,557

UNIVERSITY PRESIDENT

During Audit Period: Dr. Alvin Goldfarb

Currently: Dr. Alvin Goldfarb