REPORT DIGEST

SPECIAL LIMITED COMPLIANCE EXAMINATION TESTING OF STATE APPROPRIATIONS TO THE PUBLIC SCHOOL TEACHERS’ PENSION AND RETIREMENT FUND OF CHICAGO

For the Two Years Ended:

June 30, 2007

Summary of Findings:

Total this audit                   0

Total last audit                   0

Repeated from last audit    0

Release Date:

May 20, 2008

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 is also available on

the worldwide web at

http://www.auditor.illinois.gov

INTRODUCTION

      The Illinois General Assembly makes direct appropriations annually to the Public School Teachers’ Pension and Retirement Fund of Chicago (Fund) for payments to retired teachers.  The appropriations from the General Revenue Fund totaled $74,921,700 in Fiscal Year 2006 and $10,242,000 in Fiscal Year 2007. The appropriations from the Education Assistance Fund totaled $65,044,700 in Fiscal Year 2007.

            Our special compliance testing was limited to these State appropriations made directly to the Fund. 

FINDINGS, CONCLUSIONS, AND

                       RECOMMENDATIONS

           There were no material findings of noncompliance disclosed during our limited compliance testing.

                    _____________________________________

                     WILLIAM G. HOLLAND, Auditor General

WGH:PAH

AUDITORS  ASSIGNED

The Auditor General’s staff conducted this examination.