REPORT DIGEST

SOUTHERN ILLINOIS UNIVERSITY

FINANCIAL AUDIT
FOR THE YEAR+ ENDED JUNE 30, 2024

Release Date:  March 4, 2025

FINDINGS THIS AUDIT: 1

CATEGORY:  NEW -- REPEAT – TOTAL
Category 1:  0 -- 0 -- 0
Category 2:  1 -- 0 -- 1
Category 3:  0 -- 0 -- 0
TOTAL:  1 -- 0 -- 1

FINDINGS LAST AUDIT: 1

State of Illinois, Office of the Auditor
General
FRANK J. MAUTINO, AUDITOR GENERAL

To obtain a copy of the Report contact:
Office of the Auditor General, 400 West
Monroe, Suite 306, Springfield, IL
62704-9849
(217) 782-6046 or TTY (888) 261-2887

This Report Digest and Full Report are also
available on the worldwide web at
www.auditor.illinois.gov

INTRODUCTION

This digest covers Southern Illinois
University’s (University) Financial Audit as
of and for the year ended June 30, 2024.
Digests covering the University’s Single
Audit and State Compliance Examination will
be released at a later date.

SYNOPSIS

• (24-1) The University did not have
adequate internal controls over cutoff of
accounts payable and accrued liabilities to
ensure amounts owed are recorded in the
proper period.

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

INADEQUATE INTERNAL CONTROLS OVER CUTOFF OF
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

The University did not have adequate
internal controls over cutoff of accounts
payable and accrued liabilities to ensure
amounts owed are recorded in the proper
period.

The auditors noted the following:

• The University recorded two invoices for
$206,741 and $613,025, respectively, in
accounts payable as of June 30, 2024.
However, the services related to Fiscal Year
2025.

• The University recorded a duplicate
invoice for $161,675 in accounts payable as
of June 30, 2024.

• The University did not record an invoice
for $48,163 in accounts payable as of June
30, 2024 although the goods were received in
Fiscal Year 2024.

• The University accrued and expensed,
rather than capitalized, two fixed assets
for $263,770 during Fiscal Year 2024
(Finding 1, pages 5-6).

We recommended the University ensure
performance of appropriate reviews of
invoice details to ensure the service period
is being utilized to determine the period in
which accounts payable and accrued
liabilities and the related expenses are
recorded in the financial statements. We
also recommended the University review the
service date entered into the system to
ensure amounts are accrued in the proper
fiscal year.  Additionally, we recommended
the University input a control to timely
review for payments on fixed assets to
ensure expenses are being properly
capitalized in the correct period.

University officials agreed and stated the
University will ensure that appropriate
reviews of invoice details are performed so
that accurate service dates are entered into
the accounting system in order to properly
record accrued expenses. Officials also
stated the results of the audit were
reviewed with accounts payable staff, and
additional training has been provided to
underscore the importance of the accuracy of
the service dates to ensure expenditures are
properly recorded in either the prior or
current fiscal year. The University further
responded that each year at fiscal year-end,
the Accounts Payable supervisor will meet
with staff to provide refresher training on
this issue, and noted Accounts Payable staff
have been encouraged to seek guidance and
further review of any invoices in which the
service dates are not clearly discernable.
Officials also stated the University will
implement controls regarding payments on
fixed assets to ensure expense
capitalization in the proper period, and
noted that the results of this audit were
shared with Property Control staff.

AUDITOR’S OPINIONS

The auditors stated the financial statements
of the University as of and for the year
ended June 30, 2024 are fairly stated in all
material respects.

This financial audit was conducted by Plante
& Moran, PLLC.

COURTNEY DZIERWA
Division Director

This report is transmitted in accordance
with Section 3-14 of the Illinois State
Auditing Act.

FRANK J. MAUTINO
Auditor General

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