REPORT DIGEST

WESTERN ILLINOIS
UNIVERSITY
FOUNDATION


FINANCIAL AUDIT
For the Year Ended:
June 30, 1998







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

 

INTRODUCTION

This report covers our examination of the financial statements of the Western Illinois University Foundation for the year ended June 30, 1998. A compliance audit for the two years ended June 30, 1999 will be performed next year
 

AUDITORS' OPINION

Our auditors state the June 30, 1998 financial statements of the Foundation are fairly presented, except for the effects of such adjustments, if any, as might have been determined to be necessary had they been able to examine evidence regarding Year 2000 disclosures.  
 

____________________________________
WILLIAM G. HOLLAND, Auditor General

WGH:JTD: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 FOUNDATION
FINANCIAL AUDIT
For The Year Ended June 30, 1998

FINANCIAL OPERATIONS (ALL FUNDS)

FY 1998

FY 1997

REVENUE
Contributions and Pledges
Investment Revenue
Support from WIU
Other Revenue Sources
   Total Revenue

EXPENDITURES AND OTHER DEDUCTIONS
Scholarships
Contractual Services
Cost of Services from WIU
Assets Purchased and Donated to WIU
Funds Transferred to WIU
Other Expenditures
   Total Expenditures and Other Deductions


$3,013,466
1,533,542
522,861
634,499
$5,704,368


$818,832
514,134
522,861
304,521
606,973
572,056
$3,339,377


$2,109,805
384,973
478,309
228,534
$3,201,621


$685,732
374,630
478,309
112,506
327,679
523,515
$2,502,371

SELECTED ACCOUNT BALANCES (ALL FUNDS)

AT JUNE 30,
1998

AT JUNE 30,
1997

Cash and Investments
Other Assets
Total Assets

Liabilities
Fund Balance
Total Liabilities and Fund Balance 

$1,827,858
11,050,564
$12,878,422

$1,332,529
11,545,893
$12,878,422

$1,271,597
6,908,074
$8,179,671

$253,795
7,925,876
$8,179,671

FOUNDATION OFFICIALS
President: Jack Stites
Executive Officer: Larry Mortier