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AN AUDITWHA Radio01-4January 20012001-2002 Joint Legislative Audit Committee MembersSenate Members: Assembly Members:Gary R. George, Co-chairperson Joseph K. Leibham, Co-chairpersonJudith Robson Samantha StarzykBrian Burke John GardPeggy Rosenzweig David CullenMary Lazich James KreuserLEGISLATIVE AUDIT BUREAUThe Bureau is a nonpartisan legislative service agency responsible for conducting financial and programevaluation audits of state agencies. The Bureau’s purpose is to provide assurance to the Legislature thatfinancial transactions and management decisions are made effectively, efficiently, and in compliance withstate law and that state agencies carry out the policies of the Legislature and the Governor. Audit Bureaureports typically contain reviews of financial transactions, analyses of agency performance or public policyissues, conclusions regarding the causes of problems found, and recommendations for improvement.Reports are submitted to the Joint Legislative Audit Committee and made available to other committees ofthe Legislature and to the public. The Audit Committee may arrange public hearings on the issues identifiedin a report and may introduce legislation in response to the audit recommendations. However, the findings,conclusions, and recommendations in the report are those of the Legislative Audit Bureau. For moreinformation, write the Bureau at 22 E. Mifflin Street, Suite 500, Madison, WI 53703, call (608) 266-2818,or send e-mail to ...
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AN A UDI T
WHA Radio
01-4
January 2001
2001-2002 Joint Legislative Audit Committee Members
Senate Members:
Gary R. George, Co-chairperson Judith Robson Brian Burke Peggy Rosenzweig Mary Lazich
Assembly Members:
Joseph K. Leibham, Co-chairperson Samantha Starzyk John Gard David Cullen James Kreuser
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LEGISLATIVE AUDIT BUREAU The Bureau is a nonpartisan legislative service agency responsible for conducting financial and program evaluation audits of state agencies. The Bureau’s purpose is to provide assurance to the Legislature that financial transactions and management decisions are made effectively, efficiently, and in compliance with state law and that state agencies carry out the policies of the Legislature and the Governor. Audit Bureau reports typically contain reviews of financial transactions, analyses of agency performance or public policy issues, conclusions regarding the causes of problems found, and recommendations for improvement. Reports are submitted to the Joint Legislative Audit Committee and made available to other committees of the Legislature and to the public. The Audit Committee may arrange public hearings on the issues identified in a report and may introduce legislation in response to the audit recommendations. However, the findings, conclusions, and recommendations in the report are those of the Legislative Audit Bureau. For more information, write the Bureau at 22 E. Mifflin Street, Suite 500, Madison, WI 53703, call (608) 266-2818, or send e-mail to Leg.Audit.Info@legis.state.wi.us. Electronic copies of current reports are available on line at www.legis.state.wi.us/lab/windex.htm. ══════════════════════════════════════════════════════════════════════════
State Auditor - Janice Mueller
Editor of Publications - Jeanne Thieme Audit Prepared by Diann Allsen, Director and Contact Person Karen Durst Stephanie Beardsley
Letter of Transmittal
CONTENTS
Independent Auditor s Report on the Financial Statements of WHA Radio ’
Financial Statements Statement 1 - Balance Sheet as of June 30, 2000
Statement 2 - Statement of Financial Activity for the Year Ended June 30, 2000
Statement 3 - Statement of Cash Flows for the Year Ended June 30, 2000
Notes to the Financial Statements
Independent Auditor s Report on Compliance and on Internal Control Over ’ Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
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S tate o f W isconsin \ LEGISLATIVE AUDIT BUREAU JANICE MUELLER STATE AUDITOR 22 E. MIFFLIN ST., STE. 500 MADISON, WISCONSIN 53703 (608) 266-2818 FAX (608) 267-0410 Leg.Audit.Info@legis.state.wi.us
January 30, 2001
Senator Gary R. George and Representative Joseph K. Leibham, Co-chairpersons Joint Legislative Audit Committee State Capitol Madison, Wisconsin 53702 Mr. Jay L. Smith President of the Board of Regents University of Wisconsin Madison, Wisconsin 53706 Dear Senator George, Representative Leibham, and Mr. Smith: We have completed a financial audit of WHA Radio, as requested by the University of Wisconsin-Extension to fulfill the audit requirements of the Corporation for Public Broadcasting. The Corporation requires audited financial statements of public broadcasting entities to determine future funding levels. WHA Radio is licensed to the Board of Regents of the University of Wisconsin System and is operated by the University of Wisconsin-Extension. WHA Radio received over $7.3 million in support and revenue during fiscal year 1999-2000, including state support, member contributions, funding from the Corporation for Public Broadcasting, and various other grants. Our audit report contains WHA Radio’s financial statements and related notes for the period July 1, 1999 through June 30, 2000. We were able to issue an unqualified independent auditor’s report on these statements. We appreciate the courtesy and cooperation extended to us by University of Wisconsin-Extension staff during the audit. Respectfully submitted,
Janice Mueller State Auditor JM/DA/ao
’ Independent Auditor s Report on the Financial Statements of WHA Radio
We have audited the accompanying balance sheet of WHA Radio as of June 30, 2000, and the related statements of financial activity and cash flows for the year then ended. These financial statements are the responsibility of the management of WHA Radio. Our responsibility is to express an opinion on these financial statements, based on our audit. We did not audit the financial statements of the Wisconsin Public Radio Association, of which net assets of $490,568 are contractually committed to WHA Radio and are reflected in the accompanying financial data contained in Note 7. Net assets and revenues of the Wisconsin Public Radio Association included in the accompanying financial statements represent 14.6 percent of total assets and 11.6 percent of total support and revenues. The financial statements of the Wisconsin Public Radio Association were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for Wisconsin Public Radio Association, is based solely on the report of the other auditors. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards , issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The financial statements of the Wisconsin Public Radio Association were audited by other auditors in accordance with generally accepted auditing standards, but not in accordance with the additional requirements of Government Auditing Standards . An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. As discussed in Note 1, the financial statements present only WHA Radio and are not intended to present fairly the financial position of the State of Wisconsin, the results of its operations and changes in fund balances of its fund types, and its cash flows in conformity with generally accepted accounting principles. In our opinion, based upon our audit and the report of other auditors, the financial statements referred to in the first paragraph present fairly, in all material respects, the financial position of WHA Radio as of June 30, 2000, and the results of its operations and cash flows for the year then ended in conformity with generally accepted accounting principles.
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In accordance with Government Auditing Standards , we also will issue a report dated January 23, 2001, on our consideration of the WHA Radio’s internal control over financial reporting and our tests of its compliance with certain laws, regulations, contracts, and grants.
January 23, 2001
by
LEGISLATIVE AUDIT BUREAU
Diann Allsen Audit Director
Assets
WHA Radio A Public Telecommunications Entity Operated by the University of Wisconsin-Extension Balance Sheet June 30, 2000
Current Assets: Cash and cash equivalents (Note 2) Grants and contracts receivable Accounts and interest receivable Accounts receivable - ECB (Note 7) Due from the University of Wisconsin System Net assets of WPRA (Note 7) Prepaid expenses Total Current Assets Investments (Note 2) Property and Equipment: Production equipment Transmission equipment Furniture and fixtures Vehicles Total Property and Equipment Less accumulated depreciation Net Property and Equipment Total Assets Liabilities and Fund Balances Current Liabilities: Accounts payable and accrued expenses Due to the University of Wisconsin System Deferred support (Note 6) Total Current Liabilities Fund Balances: Designated for operations Net investment in property and equipment WPRA fund balance (Note 7) Total Fund Balances Total Liabilities and Fund Balances
Unrestricted Fund
$ 55,522 196,862 56,520 174,122 308,209 490,568 31,709 1,313,512 717,850 0 0 0 0 0 0 0 $ 2,031,362
$ 264,136 0 0 264,136 1,276,658 0 490,568 1,767,226 $ 2,031,362
The accompanying notes are an integral part of this statement.
Statement 1
Restricted Property Total Total Fund Fund June 30, 2000 June 30, 1999
$ 0 $ 0 $ 55,522 $ 86,592 18,276 0 215,138 98,148 0 0 56,520 53,784 1,107,620 0 1,281,742 1,309,485 0 0 308,209 0 0 0 490,568 483,262 0 0 31,709 29,567 1,125,896 0 2,439,408 2,060,838 0 0 717,850 702,868 0 490,697 490,697 608,507 0 342,804 342,804 257,084 0 0 0 102,384 0 0 0 12,156 0 833,501 833,501 980,131 0 (632,077) (632,077) (768,817) 0 201,424 201,424 211,314 $ 1,125,896 $ 201,424 $ 3,358,682 $ 2,975,020
$ 60,140 $ 0 $ 324,276 $ 370,423 1,065,756 0 1,065,756 734,078 0 0 0 3,704 1,125,896 0 1,390,032 1,108,205 0 0 1,276,658 1,172,239 0 201,424 201,424 211,314 0 0 490,568 483,262 0 201,424 1,968,650 1,866,815 $ 1,125,896 $ 201,424 $ 3,358,682 $ 2,975,020
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WHA Radio A Public Telecommunications Entity Operated by the University of Wisconsin-Extension Statement of Financial Activity for the Year Ended June 30, 2000
Support and Revenue State General Appropriations State Building Trust Funds Donated Facilities and Administrative Support from the University of Wisconsin System (Note 3) Community Service Grant - CPB Other Grants and Contracts Underwriting In-kind Contributions (Note 4) Investment Income Telecasting, Production, and Other Income Donations from WPRA (Note 7) Total Support and Revenue Expenses Program Services: Programming and production Broadcasting Program information Total Program Services Support Services: Management and general Fund-raising and membership development Underwriting Total Support Services Total Expenses Excess (Deficiency) of Support and Revenue Over Expenses Fund Balances Fund Balance at Beginning of Year Excess (Deficiency) of Support and Revenue Over Expenses Interfund Transfer for Equipment Acquisition Fund Balance at End of Year
Unrestricted Fund
$ 1,558,860 0 1,156,809 491,275 448,014 397,912 53,098 47,981 350,644 807,552 5,312,145
3,337,458 244,630 33,089 3,615,177
1,314,427 131,612 139,204 1,585,243 5,200,420 $ 111,725
$ 1,655,501 111,725 0 $ 1,767,226
The accompanying notes are an integral part of this statement.
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Restricted Property Total Fund Fund 1999-2000
$ 0 $ 0 $ 1,558,860 13,250 0 13,250 0 0 1,156,809 0 0 491,275 1,949,880 0 2,397,894 0 0 397,912 0 0 53,098 0 0 47,981 0 0 350,644 42,660 0 850,212 2,005,790 0 7,317,935
1,154,219 32,375 4,524,052 25,455 0 270,085 139,455 0 172,544 1,319,129 32,375 4,966,681
169,573 0 1,484,000 321,890 0 453,502 172,713 0 311,917 664,176 0 2,249,419 1,983,305 32,375 7,216,100 $ 22,485 $ (32,375) $ 101,835
$ 0 $ 211,314 $ 1,866,815 22,485 (32,375) 101,835 (22,485) 22,485 0 $ 0 $ 201,424 $ 1,968,650
Statement 2
Total 1998-1999
$ 1,513,325 0 1,170,080 397,471 2,394,352 373,992 78,041 51,036 253,557 910,064 7,141,918
4,478,991 115,042 120,448 4,714,481
1,402,942 513,951 267,005 2,183,898 6,898,379 $ 243,539
$ 1,623,276 243,539 0 $ 1,866,815
WHA Radio A Public Telecommunications Entity Operated by the University of Wisconsin-Extension Statement of Cash Flows for the Year Ended June 30, 2000
Cash Flows from Operating Activities Excess (Deficiency) of Support and Revenues Over Expenses Adjustments to Reconcile Excess Revenues Over Expenses to Net Cash Provided by Operating Activities: Depreciation Unrealized gain on investments Realized gain on investments Changes in Cash Due to: (Increase) decrease in grants and contracts receivable (Increase) decrease in accounts and interest receivable (Increase) decrease in accounts receivable - ECB (Increase) decrease in due from University of Wisconsin System (Increase) decrease in prepaid expenses Increase (decrease) in accounts payable and accrued expenses Increase (decrease) in due to University of Wisconsin System Increase (decrease) in deferred support Net Cash Provided (Used) by Operating Activities Cash Flows from Capital and Related Financing Activities (Increase) Decrease in Net Assets of WPRA Sale (Purchase) of Property and Equipment Interfund Transfer for Equipment Acquisition Net Cash Provided (Used) by Capital and Related Financing Activities Cash Flows from Investing Activities Proceeds from Sale of Long-term Investments Purchase of Long-term Investments Net Cash (Used) by Investing Activities Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents Beginning of Year End of Year
The accompanying notes are an integral part of this statement.
Operating Property Funds Fund $ 134,210 $ (32,375) 0 (136,740) (1,282) 0 1,333 0 (116,990) 0 (2,736) 0 27,743 0 (308,209) 0 (2,142) 0 (46,147) 0 331,678 0 (3,704) 0 13,754 (169,115)
(7,306) 0 0 146,630 (22,485) 22,485 (29,791) 169,115
116,751 0 (131,784) 0 (15,033) 0 (31,070) 0
86,592 0 $ 55,522 $ 0
Total 1999-2000 $ 101,835 (136,740) (1,282) 1,333 (116,990) (2,736) 27,743 (308,209) (2,142) (46,147) 331,678 (3,704) (155,361)
(7,306) 146,630 0 139,324
116,751 (131,784) (15,033) (31,070)
86,592 $ 55,522
Statement 3
Total 1998-1999 $ 243,539 49,847 4,524 1,550 89,544 25,084 (394,108) 0 459 70,444 197,830 (71,802) 216,911
18,300 (88,639) 0 (70,339)
31,919 (147,651) (115,732) 30,840
55,752 $ 86,592
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