2023c ABC Board Minutes - Laserfiche WebLink

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COUNTY OF ORANGE ALCOHOLIC BEVERAGE, CONTROL BOARD 601 VALLEY FORGE RD HILLSBOROUGH,NORTH CAROLINA 27278 'I 919-732-3432 j FAX: 919-732-5829 ocabc@mindsprin,g.com PAT BURNS,Chair Board Members LIZ CARTER,Vice Chair MIKE ZITO TONY DUBOIS,Generai Manager JUDSON WILLIAMSON MELVIN GREENE Orange County ABC Board Budget for FY2023-24 June 20, 2023 Budget Message I The Annual Budget for the fiscal year July 1, 2023 through June 30, 2024(FY 24) has been prepared in accordance to North Carolina General Statutes and in compliance with the standards of financial operations of local boards.The ABC board determines through adoption of an annual balanced budget the best way to use our resources to maintain a high level of customer service in customer friendly, modern, and efficient stores. This document outlines the ways that we will appropriately spend revenue to accomplish those goals. The primary drivers in the presentation of this budget are the cooperating needs to provide an environment where customers feel comfortable shopping while creating maximum return and to fulfill our statutory obligations.The items that follow reflect the board's goals and commitment to running an outstanding operation focused on the customer. Key Assumptions • This budget is based on projected gross revenue of$31,268,985 and operating costs of $1,666,915 and payroll is projected at$3,805,290 along with total distributions of $1,271,720. • Sales growth is projected at a slight decrease due to the sales bubble. • Distributions to Law Enforcement agencies are set at 5% and for this budget are $205,720 for alcohol law enforcement in Orange County and the towns of Carrboro, Chapel Hill and Hillsborough and remain well over the statutory requirements. • Alcohol Education funds are statutorily set at 7%and budgeted at$261,000 staying well above statutory requirements. • Distributions to the Orange County General Fund will be $805,000. i i