2012 Illinois Board of Admissions to the Bar Financial Audit and Compliance Examination

              Office of the Auditor General, Iles Park Plaza, 740 E. Ash St., Springfield, IL 62703 • Tel: 217-782-6046 or TTY 888-261-2887
This Report Digest and a Full Report are also available on the internet at www.auditor.illinois.gov
ILLINOIS BOARD OF ADMISSIONS TO THE BAR
FINANCIAL AUDIT AND COMPLIANCE EXAMINATION
For the Two Years Ended: September 30, 2011
Summary of Findings:
Total this audit:
Total last audit:
Repeated from last audit:
1
1
1
Release Date: May 17, 2012
SYNOPSIS
• The Board presented their financial budget for their 2010 projected revenues and expenses to the Board of Directors approximately 10 months after the fiscal year began.
{Expenditures and Activity Measures are summarized on the reverse page.}ii
REVENUES AND EXPENSES
Total Revenue (accrual basis)
Examination fees...............................................
1,518,825$
1,513,070$
1,618,288$
Admission on motion
211,050
80,800
64,800
House counsel fees............................................
46,000
24,900
20,100
Investment income............................................
76,313
100,302
150,321
Character and fitness fees.................................
1,211,000
1,240,065
1,234,150
Credit card fees.................................................
57,910
58,785
58,845
Other income.....................................................
115
-
-
Total Revenue.............................................
3,121,213$
3,017,922$
3,146,504$
Total Expenses (accrual basis)
Salaries, wages and payroll taxes .....................
1,201,643$
1,170,047$
1,181,156$
Proctors..............................................................
185,869
186,752
183,967
Examination purchases.....................................
304,991
307,911
313,155
Examination grading.........................................
302,837
265,360
234,182
Examination administration..............................
408,026
432,112
411,490
Admissions ceremony………………………..
113,859
132,200
96,163
Occupancy costs................................................
83,968
54,982
65,033
Insurance...........................................................
235,894
198,150
174,700
General operating..............................................
509,149
563,724
521,073
Miscellaneous....................................................
103,336
143,269
110,739
Character and fitness review costs....................
31,361
30,145
29,388
Total Expenses
3,480,933$
3,484,652$
3,321,046$
SELECTED ACTIVITY MEASURES (Unaudited)
2011
2010
2009
Number of Exams Written
February.............................................................
884
959
963
July....................................................................
2,490
2,559
2,710
Total...................................................................
3,374
3,518
3,673
During Examination Period: Regina Kwan Peterson
Currently: Regina Kwan Peterson
ILLINOIS BOARD OF ADMISSIONS TO THE BAR
FINANCIAL AUDIT AND COMPLIANCE EXAMINATION
For the Two Years Ended September 30, 2011
AGENCY DIRECTOR
2009
2010
2011iii
Budget presented ten months after fiscal year began
Board agreed with recommendation
FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS
FINANCIAL BUDGET NOT PREPARED ON A TIMELY BASIS
The Illinois Board of Admissions to the Bar (Board) presented their financial budget for their 2010 projected revenues and expenses to the Board of Directors on July 28, 2010. This is approximately ten months after the fiscal year began. Failure to timely prepare an annual budget is non-compliance with the Board’s Management Policies and Procedures.
We recommended Board management prepare an annual budget and submit it to the Board of Directors on a timely basis for approval.
Board management acknowledged the 2010 budget was not prepared in a timely manner but stated since hiring a permanent director in June 2010, the budget has been prepared timely.
AUDITORS’ OPINION
Our special assistant auditors stated the September 30, 2011 and September 30, 2010 Illinois Board of Admissions to the Bar financial statements are fairly presented in all material respects.
___________________________________
WILLIAM G. HOLLAND
Auditor General
WGH:JSC:rt
AUDITORS ASSIGNED
Kyle E. McGinnis, CPA was our special assistant auditor.