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REPORT
DIGEST SOUTHERN FINANCIAL STATEMENT AUDIT
For the Year Ended: June 30, 2008 Release Date: February 19, 2009
State of
Office of the Auditor General WILLIAM G. HOLLAND AUDITOR GENERAL
To obtain a copy of the
Report contact: Office of the Auditor
General (217) 782-6046 or TTY (888)
261-2887
This Report Digest and
the Full Report are also available on the worldwide web
at |
INTRODUCTION This report covers the Financial Audit of Southern Illinois University for the year ended June 30, 2008 including its Housing and Auxiliary Facilities System and Medical Facilities System. This report does not contain any findings. Findings related to the State Compliance Examination and the Single Audit will be issued at a later date. AUDITORS’
OPINION Our auditors stated the financial statements of the University as of June 30, 2008 and for the year then ended are fairly presented in all material respects. ____________________________________ WILLIAM G. HOLLAND, Auditor General WGH:KMA:pp SPECIAL ASSISTANT
AUDITORS Crowe Horwath LLP were our special assistant auditors for this audit. {Expenditures and Activity Measures are summarized on the reverse page.}
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SOUTHERN
FINANCIAL
STATEMENT AUDIT
FOR THE YEAR
ENDED JUNE 30, 2008
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STATEMENT OF REVENUES,
EXPENSES AND CHANGES IN NET ASSETS |
FY2008 |
FY2007 |
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OPERATING
REVENUES Student tuition and
fees...........................................
... Auxiliary enterprises..........................................................................
Grants and
contracts...............................................
Sales and services of
educational activities...............
Other.....................................................................
Total Operating Revenues.............................
OPERATING
EXPENSES Instruction..............................................................
Research...............................................................
Public services.......................................................
Academic support...................................................
Student services.....................................................
Institutional
support.................................................
Operation and
maintenance of plant.........................
Scholarships and
fellowships....................................
Auxiliary
enterprises...............................................
Depreciation...........................................................
Other....................................................................
Total
Operating Expenses.................................
Operating Loss........................................................
NON-OPERATING REVENUES
(EXPENSES) State
appropriations................................................
Payments on behalf of
the University.......................
Other non-operating
revenues (expenses), net..........
Net Non-operating Revenues ..........................
Income (Loss) Before
Capital Contributions..........
Capital
appropriations, additions to endowments and capital
grants
and
gifts........................................................................................
INCREASE
IN NET ASSETS.................................
Net assets, beginning of
the year..................................
Net assets, end of the year..........................................................
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$207,141,669 95,190,509 93,855,788 60,638,746 42,290,179 $499,116,891 $273,275,474 58,343,488 60,083,154 125,357,888 61,419,481 58,097,621 75,374,645 24,241,476 87,621,293 36,393,289 570,824 $860,778,633 ($361,661,742) $227,184,099 122,396,302 37,421,596 $387,001,997 $25,340,255 $14,771,583 $40,111,838 $426,137,436 $466,249,274 |
$182,140,804 83,367,711 89,604,596 52,529,185 39,603,670 $447,245,966 $259,860,902 57,700,962 56,378,043 112,268,877 55,192,637 54,640,752 65,398,396 19,159,776 77,328,543 34,958,458 350,826 $793,238,172 ($345,992,206) $223,149,103 106,525,874 34,315,848 $363,990,825 $17,998,619 $32,650,797 $50,649,416 $375,488,020 $426,137,436 |
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SELECTED ACCOUNT BALANCES
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JUNE 30,
2008 |
JUNE 30,
2007 |
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Cash and investments..................................................
Capital assets, net of
accumulated depreciation.............
Total Assets.............................................................
Revenue bonds,
certificates of participation and capital lease obligations....................................................
Accrued compensated
absences..................................
Total Liabilities........................................................
Net assets................................................................
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$258,508,434 $605,188,397 $938,404,694 $290,316,366 $47,967,312 $472,155,420 $466,249,274 |
$221,463,550 $572,516,218 $868,278,645 $270,661,078 $46,820,844 $442,141,209 $426,137,436 |
UNIVERSITY
PRESIDENT | ||
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During Audit Period: Dr.
Glenn Poshard Currently: Dr. Glenn
Poshard | ||