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North Carolina ABC Board (A component unit of North Carolina Government) Table of Contents June 30, 2014 and 2013  Independent Auditor’s Report Management’s Discussion and Analysis Basic Financial Statements Statement of Net Position Statement of Revenues, Expenses, and Changes in Fund Net Position Statement of Cash Flows Notes to the Financial Statements Supplementary Information OPEB RSI Schedules Schedule of Store Expenses Schedule of Administrative Expenses Schedule of Warehouse Expenses Reconciliation of Budget to Actual Independent Auditor’s Report Board of Directors ABC Board Report on the Financial Statements We have audited the accompanying financial statements of the ABC Board, a component unit of the ABC Government, which comprise the Statement of Net Position as of June 30 2014 and 2013, and the related Statement of Revenues, Expenses and Changes in Net Position, and cash flows for the year then ended, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The pro