REPORT DIGEST

THE ALUMNI ASSOCIATION OF SOUTHERN ILLINOIS UNIVERSITY AT EDWARDSVILLE

FINANCIAL AUDIT

For the Year Ended:

June 30, 2004

Release Date:

January 27, 2005

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.state.il.us/auditor

INTRODUCTION

      This digest covers our financial audit of the Alumni Association of Southern Illinois University at Edwardsville for the year ended June 30, 2004.  A compliance audit covering the two years ended June 30, 2005 will be issued at a later date.

AUDITORS’ OPINION

      Our auditors stated the June 30, 2004 financial statements of the Alumni Association are fairly presented in all material respects.

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KAL :pp

SPECIAL ASSISTANT AUDITORS

      Kerber, Eck & Braeckel LLP were our special assistant auditors for this audit.

FINANCIAL OPERATIONS (All Funds)

FY 2004

FY 2003

REVENUES

      Operating revenues..............................................

$287,873

$290,378

EXPENSES

      Operating expenses..............................................

$284,530

$284,063

            Operating income...........................................

$3,343

$6,315

NONOPERATING REVENUES (EXPENSES)

      Contributions.......................................................

$35

$75

      Interest................................................................

$6,593

$5,591

      Net change in fair value of investments..................

$18,931

($2,239)

            Net nonoperating revenues.............................

$25,559

$3,427

            Increase in net assets......................................

$28,902

$9,742

NET ASSETS

      Net Assets – beginning of year.............................

$185,174

$175,432

      Net Assets – end of year......................................

$214,076

$185,174

OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30,

2004

AT JUNE 30,

2003

Cash and Investments..................................................

Total Assets.............................................................

Deferred Revenue.......................................................

Total Liabilities........................................................

Net Assets – Invested in capital assets.........................

Net Assets – Unrestricted...........................................

Total Net Assets......................................................

$261,850

$266,024

$37,660

$51,948

$1,992

$212,084

$214,076

$216,031

$228,447

$38,400

$43,273

$3,079

$182,095

$185,174

EXECUTIVE DIRECTOR

During the audit:  Mr. Remy Billups

Currently:  Mr. Remy Billups