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Orange County ABC Board Open Meeting Board Minutes Tuesday October 16,2018 4 Audited Financial Statement for Fiscal Year 2018: Meson Barringer of DMJ&Co.presented the audited financial statements for fiscal yew ending Jane 30,2018.He also addressed questions from the Board. Ms. Bedford made a motion to approve the Audited Financial Swenventa for Fiscal Year 2018 and to move$213,118 in revenues(change in nelposidon)to Caphal Bank,Ms.Cousinrsecondedthe motion and the vote carried 5 Holiday Policy/Part Time Benefits:The Holiday Policy and Part Time Benefits Policy with recommended charges was presented.Discussion was held Ms.Cousins mode amation to approve changer on thepoBcies, Ms.Bedfordseconded the motion and the vote carried (See Attached). 6 Management Updates: 1.latcra: We are currently running a background check an an inmm candidate from UNC to work on special projects and the employee handbook. 2.Store Security Survey:The Orange County Sheriffs department has started the security evaluations for each store.Deputy T.Daniel Roberson will be at the November meeting to present his findings. 3.Salary Chart: A recommendation was made to table any decisions on the salary chart until the budget process begins for FY 2019. 4.Carrboro Store:The Carrboro store will reopen on Tuesday October 23id A tentative grand opening dam bas been set for Thursday November 8".The lease runs out on the temporary location at the end of November. 5.Oakdale Project Timeline:The contact was advertised and bids will be opened on October 26'a at 3:00 pm.The next couple of weeks will involve checking references and looking into the work of the commissars so that we may recommend hiring the lowest suitable bidder.A recommendation will be brought to the November board meeting.The contract with the builder will be looked at by the board attorney.Anticipated start date is January 2019. 7 Ten Year sales Trend and Expense Analysis: Over the past decade, the Board has continued to see a steady growth in sales revenues.However,the change in net position for fiscal year 2018 was the second lowest in ten years,due to a general increase in operational expenses.Due to the less than expected amount of revenues available for transfer at the end of fiscal year 2018,the staff intends to tansfer additional funds($300,000)from the SunTrust account into the Capital Bank account 8 Board Comments: • Mr. Burns is continuing to work with local law enforcement to ensure compliance with reporting requirements. • Mr.Lassiter inquired about when we should put store 810 at John Earl Street on the market • Mr.Bagby attended the Lunch and Learn with Criminal Justice in Chapel Hill. At 10:26am Mr.Lassiter made a motion to adjourn,Ms. Bedford secondedthe motion and the vote carried Meeting adjourned. (� et c llk Chair's Signal=and D Board Secretary's SignaR and Data Open Session 10/16/2018 Page 2 of 2 pages