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ORANGE COUNTY ABC BOARD-AGENDA FORM pp Meeting Date: June 18, 2024 Agenda Item#O Regular Session X Closed Session_ Presenter/Information Contact: Tony DuBois/Ron McCoy Subject: BUDGET for Fiscal Year 2025 Attachment(s): General Manager's Budget Letter 2025 --1—Attachment"Page-3`Budget Worksheet.(Multi-Year-Compa-Mon) 2. Attachment"Page 4"Capital Improvement Plan 3. Attachment"Page 5"Annual Budget(Draft) 4. Attachment"Page 6"Annual Budget Ordinance(Draft) Brief Summary/Explanations: Attachment"Page 3"Budget Worksheet(Multi-Year Comparison) Informational: the multi-year worksheet is included as a reference. The worksheet spans seven fiscal years (2018-2024)and includes two years pre-and-post pandemic. These revenues and expenses are the actual for income and expenses for the previous years,projected for the current year and budgeted for the upcoming,FY 2025. Capital Improvement Plan(Attachment"Page 4'): With the ten-year building period for the Board concluded in FY 2023 followed by the implementation of new registers installed and software upgraded in the stores and the office in FY 2024,capital outlay in coming years is expected to be modest. Total capital expenses for 2025 (including debt service) are estimated to be$312,255 to be paid for with a balance of funds retained from the present year. Expenses for 2025 include: • A replacement delivery truck for the warehouse(ordered but not received in 2024) • Upgraded security cameras/digital video recorder(office/stores) (not completed in 2024) BUDGET (Attachment"Pages 5/6"): Income Using sales and expenses for the current year through the end of May and adding June of the previous year,we have projected revenues for FY 2025.As the recent trend of"flat"sales is expected - to-conthme,,retai°1=storu=revenues are=increased °/a while L=BI s les are- ecrease =2°fo OveralY- l income is increased a modest 1.36%. Page 1 of 8 pages