TAILIEUCHUNG - STATE OF ILLINOIS NORTHEASTERN ILLINOIS UNIVERSITY FINANCIAL AUDIT_PART5

Stateof Đại học Illinois Northeasternlllinois tiếp tục Notesto BasicFinancialStatements, 6. TransactionsBetweenthe Universitv và Quỹ trong kết hợp Stateof Illinois và phi lợi nhuận organnation Foundationis một UniversityGuidelines riêng biệt, 1982 (amended1997). | State of Illinois Northeastern Illinois University Notes to Basic Financial Statements continued 6. Transactions Between the University and the Foundation The Foundation is a separate non-profit organization incorporated in the State of Illinois and a University related organization under University Guidelines 1982 amended 1997 . During fiscal year 2005 certain funds and in-kind services of the University with an estimated value of 65 902 were provided to the Foundation without charge. In turn during 2005 the Foundation gave the University 222 205 in funds considered unrestricted for purposes of the University Guidelines computation. In addition the Foundation gave the University nonqualifying restricted funds of approximately 133 760 in fiscal year 2005 for scholarships and equipment. 7. Pension Compensated Absences and Postemployment Benefits State Universities Retirement System Plan Description The University contributes to the State Universities Retirement System of Illinois SURS a cost-sharing multiple-employer defined-benefit pension plan with a special funding situation whereby the State of Illinois makes substantially all actuarially determined required contributions on behalf of the participating employers. SURS was established on July 21 1941 to provide retirement annuities and other benefits for staff members and employees of the state universities certain affiliated organizations and certain other state educational and scientific agencies and for survivors dependents and other beneficiaries of such employees. SURS is considered a component unit of the State of Illinois financial reporting entity and is included in the state s financial reports as a pension trust fund. SURS is governed by Section 5 15 Chapter 40 of the Illinois Compiled Statutes. SURS issues a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by writing to SURS 1901 Fox Drive Champaign IL 61820 or by

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