SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Department of Financial and Professional Regulation -- Compliance Examination. Here are excerpts: * * * INADEQUATE CONTROLS OVER ACCOUNTS RECEIVABLE AND NON-SUFFICIENT FUNDS CHECKS The Department did not maintain adequate internal controls over its accounts receivable and non-sufficient funds (NSF) checks during the examination period. During testing of 40 accounts receivables, we  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving the Department of Innovation and Technology. Here are excerpts: * * * INADEQUATE REVIEW OF TELECOMMUNICATION BILLING RATES The Department of Innovation and Technology (Department) did not review the billing rates utilized to bill agencies for telecommunication services. During testing, we noted the Department adds an administrative mark up to the telecommunication rate; however, we  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Department of Veterans Affairs -- Compliance Examination. Here are excerpts: * * * VOUCHER PROCESSING INTERNAL CONTROLS NOT OPERATING EFFECTIVELY The Illinois Department of Veterans Affairs' (Department) internal controls over its voucher processing function were not operating effectively during the examination period. Due to our ability to rely upon the processing integrity of the  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Illinois Mathematics and Science Academy -- Compliance Examination. Here are excerpts: * * * NONCOMPLIANCE WITH PROPERTY AND EQUIPMENT REQUIREMENTS The Academy did not fully comply with the requirements applicable to its property and equipment. During our examination, we requested the Academy provide us with their property control records in order to select samples and test complia  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Illinois Mathematics and Science Academy -- Financial Audit. Here are excerpts: * * * INADEQUATE CONTROLS OVER IDENTIFYING AND RECORDING UNEARNED REVENUE, UNAVAILABLE REVENUE, AND ACCOUNTS PAYABLE The Academy did not establish adequate internal controls over identifying and recording deferred revenue, unavailable revenue, and accounts payable for financial reporting purposes. Dur  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Illinois Power Agency -- Compliance Examination. Here are excerpts: * * * This report covers our financial audit of the Illinois Power Agency's (Agency) Individual Nonshared Governmental Funds (the Illinois Power Agency Operations Fund, the Illinois Power Agency Renewable Energy Resources Fund, and the Illinois Power Agency Trust Fund), as of and for the year ended June 30, 2024. A di  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Illinois Racing Board -- Compliance Examination. Here are excerpts: * * * RECEIPT PROCESSING INTERNAL CONTROLS NOT OPERATING EFFECTIVELY The Illinois Racing Board's (Board) internal controls over its receipt processing function were not operating effectively during the examination period. Due to our ability to rely upon the processing integrity of the Enterprise Resource Planning S  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Illinois State Board of Education -- Compliance Examination. Here are excerpts: * * * INSUFFICIENT CONTROLS OVER PROFESSIONAL EDUCATOR LICENSURE The Illinois State Board of Education (Agency) did not have adequate internal controls in place to monitor the requirements regarding professional educator license renewal. The Agency did not require or retain the annual professional devel  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Northern Illinois University -- Compliance Examination. Here are excerpts: * * * INADEQUATE CONTROLS OVER PROCUREMENT CARD USE Northern Illinois University (University) has not established adequate controls over its Commercial Card Program (PCards). The University operates a P-card system that allows individuals throughout the University to make small purchases (defined as less tha  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Office of Comptroller, Non-Fiscal Officer Responsibilities -- Compliance Examination. Here are excerpts: * * * INTERNAL CONTROL WEAKNESSES OVER STATE PROPERTY The Office of Comptroller (Office) failed to maintain adequate internal controls over State property. Upon our review of the Office's population of additions and deletions of State property, we noted several inconsistencies,   more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Regional Office of Education #01: Adam, Brown, Cass, Morgan, Pike, and Scott Counties -- Financial Audit. Here are excerpts: * * * DELAY OF AUDIT The Regional Office of Education #1 (ROE) did not provide completed financial statements in an auditable form by August 31, 2024. The completed financial statements were provided on October 31, 2024. The ROE is subject to 105 ILCS 5/2-3.17  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving Regional Office of Education #11: Clark, Coles, Cumberland, Douglas, Edgar, Moultrie, and Shelby Counties -- Financial Audit. Here are excerpts: * * * CONTROLS OVER FINANCIAL STATEMENT PREPARATION The Regional Office of Education #11 (ROE) did not have sufficient internal controls over the financial reporting process. While the ROE maintains controls over the processing of most acco  more

SPRINGFIELD, Illinois, May 16 (TNSLrpt) -- The Illinois Auditor General issued the following report involving University of Illinois. Here are excerpts: * * * FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS INADEQUATE CONTROLS OVER PROPERTY AND EQUIPMENT The University of Illinois (University) did not comply with requirements applicable to its property and equipment. We tested a sample of 60 items included in the University's records to determine whether the equipment existed as of the Universi  more

ENCINO, California, May 17 -- Marcus and Millichap issued the following news release: * * * Marcus & Millichap Brokers Sale of Retail Property in Chicago's South Loop CHICAGO, May 15, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1160 S. Michigan Ave., a two-tenant, ground floor retail property located in Chicago, Illinois. "The two tenants have b  more