REPORT DIGEST

ILLINOIS EDUCATIONAL FACILITIES AUTHORITY

FINANCIAL AND COMPLIANCE AUDIT
For the Year Ended:
June 30, 1997

Summary of Findings:

Release Date:
March 5, 1998

State of Illinois
Office of the Auditor General

WILLIAM G. HOLLAND
AUDITOR GENERAL

Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703
(217) 782-6046

FINDINGS, CONCLUSIONS, AND
RECOMMENDATIONS

 

There were no material findings of noncompliance disclosed during our audit tests. We commend the Authority for maintaining an effective system of internal controls.

 

AUDITORS' OPINION

Our auditors state the June 30, 1997 financial statements of the Illinois Educational Facilities Authority are fairly presented.

____________________________________
WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Berg, DeMarco, Lewis, Sawatski & Co. were our special assistant auditors for this audit.

{Financial Information and Activity Measures are summarized on the next page.}

FY 1997

FY 1996

• REVENUE

OPERATIONS TOTAL

Application and Administrative Fees
% of Total Revenue

Annual Service Fees
% of Total Revenue

Other Income
% of Total Revenue

• EXPENSES

OPERATIONS TOTAL

Administrative and Legal
% of Operation Expenses

Accounting and Technical
% of Operation Expenses

All Other Operations Items
% of Operation Expenses

$425,772

$110,911
26%

$275,167
65%

$39,694
9%

$389,889

$198,689
51%

$138,547
36%

$52,653
13%

$457,732

$53,000
12%

$367,690
80%

$37,042
8%

$369,132

$195,155
53%

$150,701
41%

$23,276
6%

FY 1997

FY 1996

• Total Number of Bond Issues

73

65

• Total Number of New Bond Issues

8

5

• Bonds Outstanding as of June 30 (in millions)

$1,427

$1,316