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ORANGE COUNTY ABC BOARD —AGENDA FORM <br /> Meeting Date: April 18, 2023 Agenda Item #46 li <br /> Regular Session X <br /> Closed Session_ <br /> i <br /> 3. Actual to Budget Comparison for Year-to-Date 2023 (Attachment"C"): <br /> With one quarter of the year remaining, a balance of approximately 25% should <br /> remain in budgeted funds. <br /> Sales revenues to date surpassed those anticipated by approximately by 5.21%. <br /> Sales-related expenses increased comparatively, with taxes up 4.57% and costs of sales up <br /> 3.66%. <br /> Payroll-related expenses continued to exceed expectations, up 5.39%. Total operating <br /> expenses were up 2.68%, due primarily to increases in store and office/warehouse supplies, <br /> service agreements, employee travel and credit card processing expenses. <br /> The increases in revenues are expected to offset increased costs. These increases and <br /> any reallocation of funds between budget line items will be addressed in a year-end budget <br /> amendment in June. <br /> it <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 /> i <br /> i <br /> i <br /> I <br /> II <br /> Page 2 of 6 pages <br />