ABC Board Minutes 111919 - Laserfiche WebLink

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Orange County ABC Board Open Meeting Board Minutes Tuesday November 19,2019 5 Consent Agenda:October 2019 a.Financial Reports: i.Comparative Statement of Net Assets ii.Comparative Revenue and Expenses for Oct.2019 and Oct.2018 iii Actual-to-Budget Oct.2019 b.Oct.2019 and Year-to-Date Retail Sales c.Statewide Sales Report Discussion was held.Mr. Bums made a motion to approve the October 1019 Consent Agenda,Mr. Lassiter seconded the motion and the vote carried 6.Management Updates: 1.Law Enforcement Reports:This report is required by the NCABC. Reports were not available at the time of the board meeting. 2.Banking Update:BB&T and SunTrust will merge soon.Capital Bank has changed hands again. We will look into new avenues for our company's banking needs. 3.Property Sale Update: Property at 112 John Earl St, Hillsborough is scheduled to close on December 9. 4.Oakdale Project Update: The project is done. Updated pictures were shown on the meeting. We open today November 196 at 9:00am.The Grand Opening event will take place December l Oa starting at 8:45 an,with ribbon cutting at 9:00am. 5. Security Updates: The Board approved additional funds for upgrades to the retail stores surveillance and security systems.These upgrades are in the process of completion.Employees are trained on the surveillance system and security procedures.Each store performs a monthly security assessmem/test.Law enforcement includes security training in our bi-annual BARS classes. 7.Oakdale Project Update:Work on the new Hillsborough Store#10 at Oakdale Drive bas been completed. By the end of November, we will see a substantial increase in capital outlay for the project. An updated Project Budget was presented to the Board. S. Budget Amendment:Mr.McCoy presented a proposed budget amendment.The budget amendment was for additional capital expenses related to the installation of upgraded security equipment in our retail stores approved by the Board. The budget amendment would also allow for the recording ofthe revenues from the sales of the property at 112 John Earl Street as well as the loss anticipated from the disposal of the same asset.Discussion was held Mr.Bums made a motion to approve the presented budget amendments,Ms. Cousins seconded the motion and the vote carried(See Attachment). 9. Board Attorney Contract Review: Our Board Attorney's contract was up for renewal.Board members reviewed the current contract.Mr. Burns made a motion to approve the contract and renew services with Mr. ifXd for two years with no changes to the contract,Ms Cousins seconded the motion and the vote carried Open Session 11/19/2019 Page 2 of 3 pages