North Carolina Education Lottery - Financial Statement Audit

NORTH CAROLINA EDUCATION LOTTERY Financial Statements June 30, 2009 (With Independent Auditors’ Report Thereon) Financial Statement Audit Report of the North Carolina Education Lottery For the Period Ended June 30, 2009 Performed under contract with the North Carolina Office of the State Auditor Beth A. Wood, CPA NORTH CAROLINA EDUCATION LOTTERY Table of Contents PAGE Auditor’s Transmittal ................................................................................................................i Independent Auditors’ Report ..................................................................................................1 Management’s Discussion and Analysis..................................................................................3 Statements of Net Assets........................................................................................................11 Statements of Revenues, Expenses, and Changes in Fund Net Assets ..................................12 Statements of Cash Flows ......................................................................................................13 Notes to the Financial Statements ..........................................................................................15 Independent Auditors’ Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards................. ...