STATE OF ILLINOIS REGIONAL OFFICE OF EDUCATION #40 FINANCIAL AUDIT_part3

Văn phòng Giáo dục khu vực của 40 quận hạt của Calhoun, Greene, Jersey, và Macoupin cung cấp Thảo luận này Quản lý và Phân tích báo cáo tài chính. Tổng quan về câu chuyện này và phân tích hoạt động tài chính cho năm tài chính kết thúc ngày 30 tháng 6 năm 2009
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STATE OF ILLINOIS REGIONAL OFFICE OF EDUCATION #40 FINANCIAL AUDIT_part3 C ALHOUN, GREENE, J ERSEY AND MACOUPIN C OUNTIES R EGIONAL O FFICE O F E DUCATION #40 SUMMARY SCHEDULE O F P RIOR A UDIT FINDINGS F or t he y ear e nded J une 30, 2009 Finding C urrent N umber C ondition S tatus 08-01 Controls Over Financial Statement Preparation Repeated as finding 09-01. This is trial version 19 www.adultpdf.com M ANAGEMENT'S DISCUSSION AND ANALYSIS This is trial version www.adultpdf.com C ALHOUN, GREENE, J ERSEY AND MACOUPIN C OUNTIES R EGIONAL O FFICE O F E DUCATION #40 M ANAGEMENT'S D ISCUSSION AND ANALYSIS F or t he y ear e nded J une 30, 2009 The Regional Office o f Education #40 for the Counties o f Calhoun, Greene, Jersey, and Macoupin provides this Management's Discussion and Analysis o f its financial statements. This narrative overview and analysis o f the financial activities is for the fiscal year ended June 30, 2009. Readers are encouraged to consider the information in conjunction with the Regional Office o f Education #40's financial statements which follow. 2009 FINANCIAL H IGHLIGHTS - Within the Governmental Funds, the General Fund revenues decreased by $42,680 from $630,187 in FY08 to $587,507 in FY09. General Fund expenditures decreased by $71,992 from $651,379 in FY08 to $579,387 in FY09. - Within the Governmental Funds, the Special Revenue Fund revenue increased by $33,749 from $1,041,228 in FY08 to $1,074,977 in FY09. The Special Revenue Fund expenditures increased by $59,565 from $1,045,407 in FY08 to $1,104,972 in FY09. USING T HIS R EPORT This report consists o f a series o f financial statements and other information as follows: - Management's Discussion and Analysis introduces the basic financial statements and provides an analytical overview o f the Regional Office o f Education #40's financial activities. - The Government-wide financial statements consist o f a Statement o f Net Assets and a Statement o f Activities. These provide information about the activities o f the Regional Office o f Education #40 as a whole and present an overall view o f the Office's finances. - Fund financial statements report the Regional Office o f Education #40's operations in more detail than the government-wide statements by providing information about the most significant funds. - Notes to the financial statements provide additional information that is needed for a full understanding o f the data provided in the basic financial statements. - Required supplementary information further explains and supports the financial statements and supplementary information provides detailed information about the non-major funds. This is trial version 20A www.adultpdf.com R EPORTING THE OFFICE A S A W HOLE The Statement o f Net Assets and the Statement o f Activities The Government-wide statements report information about the Regional Office o f Education #40 as a whole. The Statement o f Net Assets includes all o f the assets and liabilities. All o f the current year revenues and expenses are accounted for in the Statement o f Activities regardless o f when cash is received or paid, using accounting methods similar to those used by private-sector companies. The two Government-wide statements report the Office's net assets and how they have changed. Net assets--the difference between the assets and Iiabilities--are one way to measure the Office's financial health or position. -Over time, increases or decreases in the net assets can be an indicator o f whether the financial position is improving or deteriorating, respectively. -To assess the Regional Office's overall health, additional non-financial factors, such as new laws, rules, regulations, and actions by officials at the state level need to be considered. The Government-wide financial statements present the Office's activities as governmental activities and business-type activities. Local, state, and federal aid finance most o f these activities. The fund financial statements provide detailed information about the Regional Office's funds, focusing on its most significant or major funds. Funds are accounting devices which allow the tracking o f specific sources o f funding and spending on particular programs. Some funds are required by state law. The Regional Office o f Education #40 established other funds to control and manage money for particular purposes. The Regional ...