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Agenda Item -Special Presentations <br />the annual affect on net income is unavailable at this time. <br />o Internal controls are being analyzed to ensure policies and procedures are <br />in place to assure management and the NC ABC Commission that internal <br />controls are reasonably adequate. Several policies have been added <br />recently such as "Code of Business Ethics" and "Whistleblower" policies. <br />Additional policies are in the draft stages. <br />o A study of the Board pay and benefits is currently underway to determine <br />how the Board's compensation package compares to the County's and also <br />to other ABC Boards. <br />o Emerging issues that the Board has identified and are currently addressing: <br />o The Board recognizes the need to carefully monitor the locational and <br />functional issues regarding the Board's physical facilities. <br />o Major issues regarding the facilities are the age, location and method of <br />ownership (lease vs. ownership). This issue, as well as the possibility of <br />opening new locations, continues to be of primary interest. <br />o A warehouse & main office complex is needed to replace the current <br />facility. The current warehouse/office complex which was built in <br />1959 and has been expanded and renovated several times. Remaining <br />land is insufficient for additional expansion. <br />o The Board has leased its stores in Chapel Hill since its inception in <br />1959. One facility's lease expires in two years and the Board would <br />prefer to purchase land and build (or purchase a suitable building to <br />up-fit). <br />o New residential and commercial construction in the southern part of <br />Hillsborough indicates that an additional ABC store will soon be <br />needed to accommodate the added population. <br />o Several stores owned by the system (Hillsborough, Mebane, Eno) were <br />built in the seventies and require modernization. <br />® Activities to be Accomplished within the Next 18 Months: <br />o Complete activities in progress (above). <br />o Concentrate on real estate issues mentioned above. <br />o As a recurring Board items, the Board normally reviews the status of projects- <br />in-progress at the December Board meeting; then discusses and develops <br />additional goals/objectives, and sets priorities. <br />BOCC Meeting 10/17/2006 Page 5 of 7 pages <br />