REPORT DIGEST

THE ALUMNI ASSOCIATION OF SOUTHERN ILLINOIS UNIVERSITY AT EDWARDSVILLE

FINANCIAL AUDIT

For the Year Ended:

June 30, 2006

Release Date:

February 8, 2007 

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 and Full Report are 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, 2006.  A compliance audit covering the two years ended June 30, 2007 will be issued at a later date.

AUDITORS’ OPINION

      Our auditors stated the June 30, 2006 financial statements of the Alumni Association are fairly presented in all material respects.

____________________________________

WILLIAM G. HOLLAND, Auditor General

WGH:KAL :pp

SPECIAL ASSISTANT AUDITORS

      Crowe Chizek and Company, LLC were our special assistant auditors for this audit.

FINANCIAL OPERATIONS (All Funds)

FY 2006

FY 2005

REVENUES

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

$193,299

$261,993

EXPENSES

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

191,619

249,876

            Operating revenue in excess of expenses.........

$1,680

$12,117

NON-OPERATING REVENUES

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

$50

$100

      Investment Income...............................................

8,160

8,756

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

8,918

6,687

            Total non-operating revenue...........................

$17,128

$15,543

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

$18,808

$27,660

NET ASSETS

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

$241,736

$214,076

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

$260,544

$241,736

OTHER SIGNIFICANT ACCOUNT BALANCES

AT JUNE 30,

2006

AT JUNE 30,

2005

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

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

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

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

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

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

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

$343,902

$348,708

$73,327

$88,164

$0

$260,544

$260,544

$299,070

$316,999

$60,230

$75,263

$906

$240,830

$241,736

EXECUTIVE DIRECTOR

During the audit:  Mr. Remy Billups (through July 12, 2005)

Currently:  Mr. Steve Jankowski (from December 4, 2006)