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maintaining sufficient working capital for expansion and improvements. This is accomplished through six retail stores, four that are owned and two that are leased, using 25 full-time employees and 9-11 part-time employees. In the past year, the single most important accomplishment of the board has been updating and republishing the board's policy and procedure manual. There were other accomplishments, as stated in the handout. The board distributed net profits of almost $543,000 last fiscal year, including $70,452 to the Sheriff's Department; $72,156 to the City and County school systems; and $400,000 to the Orange County General Fund. In addition, they collected and paid out over $2,000,000 in total taxes, which were related to gross sales in the last fiscal year. Budgeting distributions of net profits for the current fiscal year are over $579,000. He then read over the activities scheduled for the next 18 months and emerging issues that the board has identified and plans to address. The available cash as of January 31, 2005 is $879,000 and working capital as of June 30, 2004 is $1,241,613. Commissioner Halkiotis asked about the total gross sales and Tom Heffner said that his recollection is that for last fiscal year, the total retail sales and liquor by the drink sales was slightly under $10 million. Commissioner Halkiotis said that he is happy to see that the retiree health insurance can stay in place and that they are still able to make the general fund contribution. Commissioner Jacobs thanked Tom Heffner for coming. He said that it is good to re- establish communication, since there has been a loss of contact over the past few years. He said that there is a legislative goal and it is consistent with the ABC Board's philosophy. He said that the County has hired an accounting firm to look at County operations and the two school systems and the consultant is looking at aggregating banking services in order to get better rates. This might also help the ABC Board. b. Triangle Transit Authority Annual Report The Board received a status report from the Triangle Transit Authority (TTA) regarding TTA's regional programs and the Regional Rail Project. Commissioner Alice Gordon is Orange County's representative on the TTA Board of Trustees. Executive Director of TTA John Claflin pointed out the packet of information from TTA. He made a PowerPoint presentation -Orange County Board of County Commissioners Annual Update. TRIANGLE TRANSIT AUTHORITY Organization - Jurisdiction includes Durham, Orange, and Wake Counties - 13-member Board of Trustees Regional Funding Source - $5 vehicle registration fee o subsidizes bus, vanpool o approximately $5 million/year - 5% rental car tax o subsidizes regional rail project o approximately $7 million/year Regional Programs 9