REPORT DIGEST
WESTERN ILLINOIS UNIVERSITY
FINANCIAL AND COMPLIANCE AUDIT (In accordance with the Single Audit Act and OMB Circular A-133)
For the Year Ended June 30, 2003
Summary of Findings:
Total this audit 0 Total last audit 0 Repeated from last audit 0
Release Date: March 4, 2004
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 TDD (217) 524-4646
This Report Digest is also available on the worldwide web at http://www.state.il.us/auditor |
FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS There were no material compliance findings disclosed during our audit tests. We commend the University for maintaining effective fiscal controls.
AUDITORS’ OPINION Our auditors state the financial statements of Western Illinois University as of June 30, 2003, and for the year then ended, are fairly presented in all material respects.
____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:KMA:pp
SPECIAL ASSISTANT AUDITORS Washington, Pittman & McKeever, LLC were our special assistant auditors for this audit.
{Financial Information is summarized on the reverse page.} |
WESTERN ILLINOIS UNIVERSITY
FINANCIAL AND COMPLIANCE AUDIT
For the Year Ended June 30, 2003
FINANCIAL OPERATIONS |
FY 2003 |
FY 2002 |
|
OPERATING REVENUES Tuition and fees, net Auxiliary enterprises, net Grants and controls Other Total Operating Revenues OPERATING EXPENSES Instruction Research Public service Academic support Student services Institutional support Operation and maintenance of plant Student aid Auxiliary enterprises Depreciation Other Total Operating Expenses Operating Income (Loss) NONOPERATING REVENUES (EXPENSES) State appropriations Capital appropriations Interest on capital assets - related debt Investment income Other INCREASE IN NET ASSETS Net assets, beginning of year (restated) Net assets, end of year |
$39,722,720 41,771,909 22,457,224 7,889,187 $111,841,040
$48,942,184 7,473,664 9,537,462 11,812,515 14,062,918 9,311,451 11,892,020 5,144,641 35,103,676 9,429,371 26,057,566 $188,767,468 $(76,926,428)
$81,669,728 3,200,708 (2,718,469) 343,215 35,582 $5,604,336 $82,381,827 $87,986,163 |
$34,216,328 39,354,042 22,101,821 11,315,166 $106,987,357
$49,106,545 8,097,846 8,297,367 12,368,458 13,697,961 15,870,664 10,763,227 5,302,335 34,438,211 8,168,989 27,427,942 $193,539,545 $(86,552,188)
$84,847,435 8,916,108 (2,740,048) 699,394 64,834 $5,235,535 $77,146,292 $82,381,827 |
|
SELECTED ACCOUNT BALANCES |
June 30, 2003 |
June 30, 2002 |
|
Cash and Investments Capital Assets, net of accumulated depreciation Accrued Compensated Absences Revenue Bonds Payable |
$55,971,585 $120,797,201 $19,262,214 $55,595,402 |
$57,400,644 $118,248,453 $21,046,397 $57,686,123 |
|
SUPPLEMENTAL INFORMATION |
FY 2003 |
FY 2002 |
|
Employment Statistics |
|||
Faculty and Administrative |
1,050 |
1,059 |
|
Civil Service |
849 |
856 |
|
Student Employees |
334 |
332 |
|
Total Employees |
2,233 |
2,247 |
|
Enrollment Statistics |
|||
Fall term enrollment - undergraduate |
10,440 |
10,112 |
|
Fall term enrollment -graduate |
1,972 |
1,964 |
|
Fall term enrollment - extension |
1,049 |
1,130 |
|
Full-time equivalent cost per student |
$8,349 |
$8,557 |
|
UNIVERSITY PRESIDENT |
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During Audit Period: Dr. Alvin Goldfarb Currently: Dr. Alvin Goldfarb |