STATE OF ILLINOIS DEPARTMENT OF TRANSPORTATION FINANCIAL AUDIT For the Year Ended June 30, 2009_part1 ppt

STATE OF ILLINOIS DEPARTMENT OF TRANSPORTATION FINANCIAL AUDIT For the Year Ended June 30, 2009 Performed as Special Assistant Auditors for the Auditor General, State of Illinois This is

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STATE OF ILLINOIS DEPARTMENT OF TRANSPORTATION

FINANCIAL AUDIT For the Year Ended June 30, 2009

Performed as Special Assistant Auditors for the

Auditor General, State of Illinois

This is trial version www.adultpdf.com

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TABLE OF CONTENTS

Page AGENCY OFFICIALS 1 FINANCIAL STATEMENT REPORT

Summary 2 Independent Auditors’ Report 4 Basic Financial Statements

Statement of Net Assets 6 Statement of Activities 7 Balance Sheet – Governmental Funds 8

Reconciliation of Governmental Funds Balance Sheet to

Statement of Net Assets 9

Statement of Revenues, Expenditures, and Changes in

Fund Balances – Governmental Funds 10

Reconciliation of Statement of Governmental Funds Revenues,

Expenditures, and Changes in Fund Balances to Statement

of Activities 11

Statement of Net Assets – Proprietary Fund - Air Transportation

Revolving Fund (0309) 12

Statement of Revenues, Expenses, and Changes in Fund Net

Assets – Proprietary Fund - Air Transportation Revolving

Fund (0309) 13

Statement of Cash Flows – Proprietary Fund - Air Transportation

Revolving Fund (0309) 14 Notes to Financial Statements This is trial version 15

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TABLE OF CONTENTS - Continued Supplementary Information

Combining Schedule of Accounts – General Revenue Fund 36 Combining Statement of Revenues, Expenditures and Changes

in Fund Balances – General Revenue Fund 37 Combining Schedule of Accounts – Motor Fuel Tax Fund 38

Combining Statement of Revenues, Expenditures and Changes

in Fund Balances – Motor Fuel Tax Fund 39 Combining Balance Sheet – Nonmajor Governmental Funds 40 Combining Statement of Revenues, Expenditures and Changes

in Fund Balances – Nonmajor Governmental Funds 44 Report on Internal Control Over Financial Reporting and on Compliance

and Other Matters Based on an Audit of Financial Statements Performed

in Accordance with Government Auditing Standards 48 Schedule of Findings 50 Prior Findings Not Repeated 57

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AGENCY OFFICIALS

Director, Office of Finance and Administration Ann L Schneider

Acting Director, Office of Business and Workforce Diversity Lawrence Parrish

Acting Director, Office of Planning and Programming Charles J Ingersoll

Director, Office of Quality Compliance and Review Daniel Kennelly

Director, Division of Public and Intermodal Transportation Joseph P Clary

Director, Division of Traffic Safety Michael R Stout

Agency main offices are located at:

2300 S Dirksen Parkway

Springfield, IL 62764

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STATE OF ILLINOIS DEPARTMENT OF TRANSPORTATION FINANCIAL STATEMENT REPORT

SUMMARY

The audit of the accompanying basic financial statements of the State of Illinois, Department of Transportation (Department) was performed by Sikich LLP as special assistants for the Auditor General

Based on their audit, the auditors expressed an unqualified opinion on the Department’s basic financial statements

SUMMARY OF FINDINGS

The auditors identified matters involving the Department’s internal control over financial reporting that they considered to be significant deficiencies The significant deficiencies are described in the accompanying Schedule of Findings on pages 50-56 of this report, as findings 09-1 through 09-3, summarized below The auditors also consider finding 09-3 to be a material weakness

09-1 Weaknesses in preparation of GAAP reporting forms submitted to the Illinois Office

of the Comptroller and preparation of year-end Department financial statements 09-2 Inaccurate commodities inventory records

09-3 Weaknesses in the reporting of capital assets

PRIOR FINDINGS NOT REPEATED

A Revenue recognition/deferred revenue

B Restatement of shared revenues

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EXIT CONFERENCE The findings and recommendations appearing in this report were discussed with Department personnel at an exit conference on March 11, 2010 Attending were:

Department of Transportation

Gary Hannig, Secretary Lori Beeler, Audit Coordinator/Risk Manager Mark Blankenship, Section Chief, Financial and Administrative Services Section

Jarod Hitchings, Assistant to Audit Coordinator/Risk Manager

Ron McKechan, Chief of Audits Aaron Weatherholt, Bureau Chief, Bureau of Operations Bill Winberg, Acting Chief of Fiscal Operations

Office of the Auditor General Peggy Hartson, Audit Manager Sikich LLP – Special Assistant Auditors Amy L Sherwood, Partner Sarah Sullivan, Senior Accountant The responses to the recommendations were provided by Secretary Gary Hannig in a letter dated March 17, 2010

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INDEPENDENT AUDITORS’ REPORT

Honorable William G Holland

Auditor General

State of Illinois

As Special Assistant Auditors for the Auditor General, we have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the State of Illinois, Department of Transportation (the Department), as of and for the year ended June 30, 2009, which collectively comprise the Department’s basic

financial statements as listed in the table of contents These financial statements are the

responsibility of the Department’s management Our responsibility is to express opinions on these financial statements based on our audit

We conducted our audit in accordance with auditing standards generally accepted in the United

States of America and the standards applicable to financial audits contained in Government

Auditing Standards issued by the Comptroller General of the United States Those standards

require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements An audit also includes assessing the accounting principles used and the significant estimates made by

management, as well as evaluating the overall financial statement presentation We believe that our audit provides a reasonable basis for our opinions

As discussed in Note 2, the financial statements of the Department are intended to present the financial position, changes in financial position and cash flows, where applicable, of only that portion of the governmental activities, each major fund, and the aggregate remaining fund

information of the State that is attributable to the transactions of the Department They do not purport to, and do not, present fairly the financial position of the State of Illinois as of

June 30, 2009, and the changes in its financial position and cash flows, where applicable, for the year then ended in conformity with accounting principles generally accepted in the United States

of America

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the

aggregate remaining fund information of the Department, as of June 30, 2009, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America

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In accordance with Government Auditing Standards, we have also issued a report dated

March 24, 2010 on our consideration of the Department’s internal control over financial

reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on

compliance That report is an integral part of an audit performed in accordance with Government

Auditing Standards and should be considered in assessing the results of our audit

The Department has not presented a management’s discussion and analysis and budgetary

comparison information for any of its funds that accounting principles generally accepted in the United States of America has determined is necessary to supplement, although not required to be part of, the basic financial statements

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Department’s basic financial statements The combining General Revenue Fund, Motor Fuel Tax Fund, and nonmajor fund financial statements and schedules listed in the table of contents as supplementary information are presented for purposes of

additional analysis and are not a required part of the basic financial statements The combining General Revenue Fund, Motor Fuel Tax Fund, and nonmajor fund financial statements and schedules have been subjected to the auditing procedures applied in the audit of the basic

financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole

This report is intended solely for the information and use of the Auditor General, the General Assembly, the Legislative Audit Commission, the Governor, the Comptroller, and Department management, and is not intended to be and should not be used by anyone other than these

specified parties

Springfield, Illinois

March 24, 2010

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State of Illinois Department of Transportation Balance Sheet-Governmental Funds June 30, 2009 (Expressed in Thousands)

General Fund

0001 Road Fund

0011 State Construction Account 0902

Nonmajor Funds Total Governmental Funds ASSETS Unexpended appropriations $ 417

$ 386,933 $ 73,861 $ 223,893 685,104 $

Cash equity with State Treasurer 45

2,657 -

20,647 23,349

Cash and cash equivalents -

836

371

2,958 4,165

Intergovernmental receivables, net 1,001 509,135 -

27,399 537,535

Other receivables, net -

4,950 27

20

4,997

Due from other Department funds 30

48,077 46,641

4,932 99,680

Due from other State funds -

2,800 7

222,543 225,350

Due from State of Illinois component units -

527

-

527

Inventories -

53,452 -

- 53,452

Loans receivable, net 843

-

36,366 37,209

Total assets 2,336 $

1,009,367 $

120,907 $

538,758 $

1,671,368 $

LIABILITIES Accounts payable and accrued liabilities $ 239

$ 229,869 $ 72,974 $

36,192 339,274 $

Intergovernmental payables 138

134,987 1,195 27

3,282 409,602

Due to other State fiduciary funds -

2,943 -

98

3,041

Due to other Department funds 31

424

-

99,262 99,717

Due to other State funds -

11,775 63

864

12,702

Due to State of Illinois component units -

2,260

- 1,406 3,666

Unavailable revenue 973

59,710 -

16

,708 77,391

Matured portion of long-term obligations -

506

-

506

Total liabilities 1,381 442,474 74,232 427,812 945,899 FUND BALANCE S Reserved for: Encumbrances 9

5,001 -

-

5,010

Inventories -

53,452 -

-

53,452

Long-term portion of: Loans and notes receivable 843

-

36,366 37,209

Designated for reappropriated accounts in special revenue funds -

-

7,466 7,466

Unreserved, undesignated: General fund 103

-

103

Special revenue funds -

508,440 46,675

64,454 619,569

Capital project funds -

-

418

Debt service fund -

-

2,242 2,242

Total fund balances 955

566,893

46,675

110,946

725,469

Total liabilities and fund balances 2,336 $

1,009,367 $

120,907 $

538,758 $

1,671,368 $

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