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21 <br /> MARTIN STARNES <br /> Jsso I TES , CPAs , P.A. <br /> "A Professional Association gfC'ertified Public Accountants mid.i1anagement Consultants <br /> Independent Auditor's Report <br /> To the Board of Commissioners <br /> Orange County,North Carolina <br /> Report on the Financial Statements <br /> We have audited the accompanying financial statements of the governmental activities, the business-type <br /> activities, the discretely presented component unit, each major fund, and the aggregate remaining fund <br /> information of Orange County,North Carolina,as of and for the year ended June 30,2015, and the related <br /> notes to the financial statements, which collectively comprise Orange County's basic financial statements <br /> as listed in the table of contents. <br /> Management's Responsibility for the Financial Statements <br /> Management is responsible for the preparation and fair presentation of these financial statements in <br /> accordance with accounting principles generally accepted in the United States of America; this includes <br /> the design, implementation, and maintenance of internal control relevant to the preparation and fair <br /> presentation of financial statements that are free from material misstatement, whether due to fraud or <br /> error. <br /> Auditor's Responsibility <br /> Our responsibility is to express opinions on these financial statements based on our audit. We conducted <br /> our audit in accordance with auditing standards generally accepted in the United States of America and <br /> the standards applicable to financial audits contained in Government Auditing Standards, issued by the <br /> Comptroller General of the United States. Those standards require that we plan and perform the audit to <br /> obtain reasonable assurance about whether the financial statements are free from material misstatement. <br /> The financial statements of the Orange County ABC Board were not audited in accordance with <br /> Government Auditing Standards. <br /> An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in <br /> the financial statements. The procedures selected depend on the auditor's judgment, including the <br /> assessment of the risks of material misstatement of the financial statements,whether due to fraud or error. <br /> In making those risk assessments,the auditor considers internal control relevant to the entity's preparation <br /> and fair presentation of the financial statements in order to design audit procedures that are appropriate in <br /> the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's <br /> internal control. Accordingly, we express no such opinion. An audit also includes evaluating the <br /> appropriateness of accounting policies used and the reasonableness of significant accounting estimates <br /> made by management,as well as evaluating the overall presentation of the financial statements. <br /> 730 13th Avenue Drive SE♦Hickory,North Carolina 28602♦Phone 828-327-2727♦Fax 828-328-2324 <br /> 13 South Center Street♦Taylorsville,North Carolina 28681 ♦Phone 828-632-9025♦Fax 828-632-9085 <br /> Toll Free Both Locations 1-800-948-0585♦Website:www.martinstames.com <br />