REPORT DIGEST ILLINOIS LITERACY FOUNDATION FINANCIAL AND COMPLIANCE AUDIT For the Two Years Ended: Summary of Findings: Total this audit 2
Release Date: State of Illinois WILLIAM G. HOLLAND AUDITOR GENERAL To obtain a copy of the Report contact: (217)782-6046 or TDD (217) 524-4646 This Report Digest is also available on |
INTRODUCTION The Illinois Literacy Foundation is a not-for-profit foundation whose primary goal is to promote literacy among the residents of the State by supporting literacy programs and enhancing Statewide literacy awareness; by making grants and gifts in aid and support of the goal; and by engaging generally in other lawful endeavors consistent with the foregoing purposes. The Secretary of State serves as ex-officio Director of the Foundation. FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS Our report contains two procedural findings related to the Foundation being inactive for five months during the process of transitioning to a new Secretary of State. The Foundation stated the related recommendations will be implemented upon the appointment of a new Foundation board of directors. AUDITORS' OPINION Our auditors state the Foundation's financial statements as of June 30, 1999 and June 30, 1998 and for the years then ended are fairly stated in all material respects.
___________________________________ WILLIAM G. HOLLAND, Auditor General WGH:KMM:pp SPECIAL ASSISTANT AUDITORS Kerber, Eck & Braeckel LLP were our special assistant auditors for this audit. |
ILLINOIS LITERACY FOUNDATION
FINANCIAL AND COMPLIANCE AUDIT
For The Two Years Ended June 30, 1999
STATISTICS | FY 1999 |
FY 1998 |
REVENUES Corporate gifts Direct public support In-kind contribution Interest Total revenues EXPENSES EXCESS OF EXPENSES OVER REVENUES |
$2,000 3,418 - 560 $5,978
$(904) |
$1,000 3,365 42,000 490 $46,855
$(1,435) |
EX OFFICIO FOUNDATION DIRECTOR |
During Audit Period: Honorable George H. Ryan Currently: Honorable Jesse White |