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ORANGE COUNTY ABC BOARD--AGENDA FORM <br /> Meeting Date: August 23,2022 Agenda Item # 6a <br /> Regular Session X <br /> Closed Session <br /> Presenter/Information Contact: Ron McCoy <br /> Subject: July 2022 Financial Reports <br /> Attachment(s): <br /> 1. Attachment"A"Comparative Statement of Net Position for July 2022. <br /> 2. Attachment "B" Comparative Statement of Revenues, Expenses and Changes in Net <br /> Position for July 2022 and July 2021. <br /> 3. Attachment"C"Actual to Budget Comparison,FY 2022. <br /> Brief Summary/Explanations: <br /> Changes regarding GASB 87 are still pending.Rent expense will be replaced by a lease interest <br /> and amortization expenses. We are still waiting on a monthly schedule from the auditors for recording <br /> these expenses. Cash over/short has been moved from payroll-related expenses into other operating <br /> expenses. <br /> 1. Comparative Statement of Net Position (Attachment"A"): <br /> With ongoing year-end 2022 adjustments to liabilities and assets, this statement is <br /> incomplete and not included in this board packet.A finalized statement for July 2022 reflecting <br /> all June 2022 additions,deletions and revisions will be presented to the Board in the September <br /> meeting. <br /> 2. Comparative Revenue, Expenses and Changes in Net Position 2022 to 2021 <br /> (Attachment"B"): <br /> Retail store sales for the month($1,951,835)were down-3.71%as were wine sales <br /> ($2,624) sales, down -11.26%. LBD sales ($337,523) were up slightly, +0.96%. Total sales <br /> ($2,291,982)were down-3.06%, due primarily to the onset of vacation season. <br /> Total payroll expenses were$257,613,up 5.75%. Operating expenses($125,619)were <br /> up $17,293 (15.96%) due primarily to increases in store expenses (+$5,741), credit card <br /> processing (+$4,411) and vehicle expenses (+$8,719). Note: expenses for lease interest and <br /> amortization are to be determined. <br /> Net income for the month/year is $111,919. This figure will be adjusted once the <br /> additional"expenses"are known. <br /> Page 1 of 4 pages <br />