Board of Trustees Report to the Audit Committee February 13, 2014 Report: Fiscal Year 2013 State Auditor’s Report on UNCW’s Fiscal Year 2013 Financial Statements Summary This is the annual report from the State Auditor, Beth A. Wood, dated December 6, 2013. The State Auditor issued an unqualified audit opinion on UNCW’s Fiscal Year 2013 Financial Statements. An unqualified audit opinion is the highest rating that can be provided by an external audit. The opinion excerpt from the report follows: Opinion In our opinion, based on our audit and the reports of the other auditors, the financial statements referred to above present fairly, in all material respects, the financial position of the University of North Carolina Wilmington, as of June 30, 2013, and the changes in financial position and cash flows, thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. In addition, the State Auditor did not identify any material weaknesses or significant deficiencies in internal controls. The University’s total Net Position at June 30, 2013 totaled $427,227,137 compared to $399,696,296 at June 30, 2012, an increase of $27,530,841.