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COUNTY OF ORANGE ALCOHOLIC BEVERAGE CONTROL BOARD 601 VALLEY FORGE RO HILLSBOROUGH,NORTH CAROLINA 27278 919-732-3432 FAX: 919-732-5829 ucab0aamindsor ne com GREGG JARVIES,Chair Board Members XEITH BAGBY,Vice Chair LANE COUSINS TONY DUBOIS,General Manage MIKE LASSITER JAMEZETTA BEDFORD Orange County ABC Board Budget for FY2018-19 June 22, 2018 Budget Message The Annual Budget for the fiscal year July 1,2018 through June 30, 2019 (FY 19) has been prepared in accordance to North Carolina General Statutes and in compliance with the standards offinancial operations of local boards.The ABC board determines through adoption of an annual balanced budget the best way to use our resources to maintain a high level of customer service in customer friendly, modern, and efficient stores.This document outlines the ways that we will appropriately spend revenue to accomplish those goals.The primary drivers in the presentation of this budget are the cooperating needs to provide an environment where customers feel comfortable shopping while creating maximum return and to fulfill our statutory obligations. The items that follow reflect the board's goals and commitment to running an outstanding operation focused on the customer. Key Assumptions • This budget is predicated on projected gross revenue of$20,780,685 and operating costs including payroll are projected at$3,679,530 along with distributions of$939,000. • Sales growth is projected at 3.25%. • Distributions to Law Enforcement agencies are required to be a minimum of 5%or $50,000est.This budget of$160,000 for alcohol law enforcement in Orange County and the towns of Carrboro, Chapel Hill and Hillsborough remain well over the statutory requirements. • Alcohol Education funds are statutorily set at 7%or$70,000est. and are budgeted at $244,000 staying well above statutory requirements. • Distributions to the Orange County General Fund will be$535,000 despite a lower projected net income for 2018/19 primarily due to the implementation of the living wage, corresponding salary scale adjustments and increased expenses related to store relocation.