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ORANGE COUNTY ABC BOARD—AGENDA FORM <br /> Meeting Date: March 21,2023 Agenda Item # Sa <br /> Regular Session X <br /> Closed Session <br /> 3. Actual to Budget Comparison for Year-to-Date 2023 (Attachment "C"): <br /> With two-thirds of the fiscal year complete, approximately 33.33%should remain in <br /> allocated funds. Although sales at the store/retail have begun to moderate, LBD/commercial <br /> sales continue to rebound from pandemic levels. As a result, retail sales are 4.02% above <br /> projected while LBD sales are 8.9%higher. Sales related expenses (taxes and cost of <br /> sales/goods) are up accordingly. <br /> Payroll related expenses are expected to remain elevated for the foreseeable future. <br /> Through February, overall payroll expenses are 4.31% higher than projected. <br /> Total operating expenses are trending 2% above those budgeted. With the impending <br /> opening of the new Mebane store, store supplies and related expenses are expected to increase <br /> further as we transition from an older and smaller store to a newer and much larger one. <br /> Customer curiosity will drive sales at this new location upward, however and the increased <br /> revenues will help offset the costs of getting the store open. <br /> Action Requested: <br /> 1. Consent Agenda Item. <br /> 2. Review and discuss as needed. <br /> Financial Impact: See Above <br /> Staff Recommendations/Comments:None <br /> Page 2 of 6 pages <br />