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.