Agenda - 04-09-1997 - 2a - Laserfiche WebLink

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northside of the county. Conducts monthly physical inventory count at warehouse. (C) Assistant General Manager - performs the general ledger accounting, generates monthly financial statements, performs payroll duties, responsible for record keeping of distressed merchandise and calculates tax liabilities. Administers employee health insurance program. Secretary to the Board. (D) General Manager - oversees all of the above performances, assists in determining policy, prepares budgets, attends Board meetings, responsible for personnel matters, and many other responsibilities. AUDITING. - An independent auditing firm is contracted to perform semi-annual audits of financial statements and inventory verifications. BOARD MEETINGS - Monthly meetings are held at the ABC office for the purpose of discussing financial matters, policy requirements, budgeting, personnel matters and other relevant business. We believe that in the past two years, Orange County ABC has positioned itself for the expected growth of the county. We also believe that the long standing decision by the Orange County Commission to have a five member ABC Board consisting of diverse elements of the general public has served the citizens of Orange County well. These factors, as well as others, have contributed to the Orange County ABC system being fiscally responsible in the past and will continue to do so in the future. The biggest threat to the ABC system is the ever present threat to privatize the system. For the .past five years there has been considerable thought by some legislators to get the state out of the liquor business. In most cases, those making such proposals do not understand how the system works or how it is structured. Most think that the state owns all of the existing assets and that all employees are employees of the state. We feel that should privatization become a reality, the state would probably not suffer any loss of revenue. The legislators could see to it that tax structures to the private sector could generate as much revenue as under the current system. However, we believe the local government entities will be hurt the most. Quite possibly, local governments would have to find ways to replace lost revenues to schools, police departments and county or municipal governments. Finally, the projection for this fiscal year looks to be about the same as last year which was in the $425, 00.00 to $450, 000.00 range. The bulk of the costs for upgrading the system over the past two years have been capitalized, however, with any remodeling project there is always some associated expenses. We believe we will have the major upgrading completed by May 1997 and we will be in a position to accommodate future growth.