Office of the Legislative Auditor - Financial Audit Division

Report Summary
State Board of Investment

Financial Audit

For the Year Ended June 30, 1994

Objectives:

Examine the board's financial statements.

Review internal control structure: Investment purchases and sales, investment custody and valuation, investment income collection and allocation, and management fee payments and reimbursements.

Test compliance with certain finance-related legal provisions.

Conclusions:

We issued an unqualified opinion on the board's financial statements.

We found the internal control structure to be effective.

We found no departures from finance-related legal provisions.