State Employees’ Retirement System of the State of ... State Employees’ Retirement System of the

  • View
    0

  • Download
    0

Embed Size (px)

Text of State Employees’ Retirement System of the State of ... State Employees’ Retirement...

  • State Employees’ Retirement System of the State of Illinois

    Report on Allocation of Pension Amounts For the Year Ended June 30, 2018

    Performed as Special Assistant Auditors For the Auditor General, State of Illinois

  • State Employees’ Retirement System of the State of Illinois Report on Allocation of Pension Amounts Year Ended June 30, 2018 Table of Contents Page System Officials / Summary 1 Independent Auditor’s Report 2 - 3 Schedule of Employer Allocations by Fund 4 - 15 Schedule of Pension Amounts by Fund 16 - 27 Notes to the Schedule of Employer Allocations and Pension Amounts by Fund 28 - 52

  • 1

    State Employees’ Retirement System of the State of Illinois Report on Allocation of Pension Amounts June 30, 2018 System Officials Executive Secretary Timothy B. Blair Accounting Division Manager Alan Fowler, CPA Internal Auditor Casey Evans Office Locations Springfield Office 2101 South Veterans Parkway P.O. Box 19255 Springfield, IL 62794-9255 Chicago Office State of Illinois Building 160 North LaSalle Street, Suite N725 Chicago, IL 60601 Summary The audit of the accompanying Schedule of Employer Allocations by Fund, Schedule of Pension Amounts by Fund, and the related Notes to the Schedules (Schedules) of the State Employees’ Retirement System of the State of Illinois (System) was performed by RSM US LLP. Based on their audit, the auditors expressed unmodified opinions on the System’s Schedules.

  • 2

    Independent Auditor’s Report Honorable Frank J. Mautino Auditor General, State of Illinois Board of Trustees State Employees’ Retirement System of the State of Illinois Report on the Schedules As Special Assistant Auditors for the Auditor General, we have audited the accompanying Schedule of Employer Allocations by Fund, of the State Employees’ Retirement System of the State of Illinois (System), as of and for the year ended June 30, 2018, and the related Notes to the Schedule. We have also audited the total for all entities of the columns titled ending net pension liability, total deferred outflows of resources, total deferred inflows of resources and total pension expense (specified column totals) included in the accompanying Schedule of Pension Amounts by Fund of the System as of and for the year ended June 30, 2018, and the related Notes to the Schedule. Management’s Responsibility for the Schedules Management is responsible for the preparation and fair presentation of these Schedules in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the Schedules that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on the Schedule of Employer Allocations by Fund and the specified column totals included in the Schedule of Pension Amounts by Fund based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Schedule of Employer Allocations by Fund and specified column totals included in the Schedule of Pension Amounts by Fund are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Schedule of Employer Allocations by Fund and specified column totals included in the Schedule of Pension Amounts by Fund. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the Schedule of Employer Allocations by Fund and specified column totals included in the Schedule of Pension Amounts by Fund, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the Schedule of Employer Allocations by Fund and specified column totals included in the Schedule of Pension Amounts by Fund in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the Schedule of Employer Allocations by Fund and specified column totals included in the Schedule of Pension Amounts by Fund.

  • 3

    We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the Schedules and the related Notes to the Schedules referred to above present fairly, in all material respects, the employer allocations by fund as of and for the year ended June 30, 2018, and the ending net pension liability, total deferred outflows of resources, total deferred inflows of resources, and total pension expense for the total of all participating entities for the System as of and for the year ended June 30, 2018, in accordance with accounting principles generally accepted in the United States of America. Other Matter We have audited, in accordance with auditing standards generally accepted in the United States of America, the financial statements of the System’s Pension Plan as of and for the year ended June 30, 2018, and our report thereon, dated December 14, 2018 expressed an unmodified opinion on those financial statements. Restriction on Use Our report is intended solely for the information and use of the Auditor General, the General Assembly, the Legislative Audit Commission, the Governor, the Comptroller, System management, System Board of Trustees, System Employers as of and for the year ended June 30, 2018 and their auditors and is not intended to be, and should not be, used by anyone other than these specified parties.

    Schaumburg, Illinois March 20, 2019

  • 4

    State Employees' Retirement System of the State of Illinois Schedule of Employer Allocations by Fund June 30, 2018

    Fund # Fund Agency # Employer

    Contributions Paid

    Employer Contributions

    not in the State's

    Reporting Warehouse

    Employer Contribution

    Refunds not in the State's Reporting

    Warehouse 0001 GENERAL REVENUE Total GRF 1,319,238,438$ 1,159,297$

    350 416 418 426 444 478 492 586 691

    All Others 0011 ROAD 360 112,629 (10,844) 0011 ROAD 494 211,351,402 (14,492,812) 0012 MOTOR FUEL TAX 492 11,077,545 (798,310) 0012 MOTOR FUEL TAX 494 4,178,652 (290,345) 0013 PREVENT & TREAT ALCOHOL & SUB 444 832,340 (58,442) 0014 FOOD & DRUG SAFETY 482 285,295 0016 TEACHER CERTIFICATE FEE REVOLV 586 60,501 0018 TRANSPORTATION REGULATORY 524 2,555,172 0021 FINANCIAL INSTITUTION 440 1,708,329 (123,914) 0022 GENERAL PROFESSIONS DEDICATED 440 899,930 (59,877) 0026 LIVE & LEARN 350 111,796 0039 STATE BOATING ACT 422 1,982,108 (6,993) 0040 STATE PARKS 422 1,346,351 0041 WILDLIFE & FISH 422 7,654,270 (21,124) 0042 SALMON 422 79,627 0044 LOBBYIST REGISTRATION ADMIN 350 240,909 0045 AGRICULTURAL PREMIUM 406 549,284 0047 FIRE PREVENTION All 4,535,610 (319,827) 0048 RURAL/DOWNSTATE HEALTH ACCESS 482 9,076 0050 MENTAL HEALTH 444 1,246,091 (86,144) 0051 AMUSEMENT RIDE & PATRON SAFETY 452 12,951 0052 FEDERAL TITLE III SS & EMPLOY 360 74,014 (5,639) 0052 FEDERAL TITLE III SS & EMPLOY 427 37,256,989 0054 STATE PENSIONS 370 2,178,190 (139,003) 0057 IL STATE PHARMACY DISCIPLINARY 440 396,851 (27,367) 0059 PUBLIC UTILITY 524 5,811,917 0063 PUBLIC HEALTH SERVICES 482 11,656,436 0065 U S ENVIRONMENTAL PROTECTION 532 4,987,303 0067 RADIATION PROTECTION All 1,331,458 0068 HOSPITAL LICENSURE 482 181,931 0072 UNDERGROUND STORAGE TANK 492 475,400 (33,694) 0072 UNDERGROUND STORAGE TANK All Others 2,691,936 (66,872) 0074 EPA SPEC STATE PROJ TRUST 532 60,504 0075 COMPASSION USE MED CANNABIS All 984,444 (14,297) 0077 MINES & MINERALS UIC 422 53,743 0078 SOLID WASTE MANAGEMENT All 1,777,869 0081 VOCATIONAL REHABILITATION 444 17,026,954 (1,233,140) 0085 IL GAMING LAW ENFORCEMENT 340 259,645 0089 SUBTITLE D MANAGEMENT 532 403,810 0090 SPECIAL FEDERAL GRANT PROJECT 295 67,293

  • 5

    Other Adjustments to

    General Revenue Fund

    (GRF)

Recommended

View more >