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III <br /> ORANGE COUNTY ABC BOARD —AGENDA FORM <br /> II <br /> Meeting Date: August 22, 2023 Agenda Item # 5 <br /> Regular Session X <br /> Closed Session <br /> Presenter/Information Contact: Ron McCoy <br /> Subject: June 2023 Financial Reports <br /> i <br /> Attachment(s): <br /> 1. Attachment"A" Comparative Statement of Net Position for June 2023. <br /> 2. Attachment `B" Comparative Statement of Revenues, Expenses and Changes in Net <br /> Position for June 2023 and 2022. <br /> Brief Summary/Explanations: <br /> With the fiscal year 06/30/2023 audit ongoing, preliminary financial statements are presented <br /> prior to year-end adjustments and journal entries being made, Year-end balances, accruals, budget <br /> reconciliations, actuarially calculated liabilities and GASB-mandated entries are subject to change. <br /> 1. Comparative Statement of Net Position (Attachment"A"): <br /> Total cash held by the Board($3,714,166)was down-$100,947(-2,65%)while property <br /> and equipment ($15,573,077) increased $3,541,675 (29.44%) with the additions of stores 004 <br /> (Mebane) and 008 (Southern Village). <br /> Year-end income ($1,185,846) decreased-$619,953 (-34.33%). <br /> 2. Comparative Revenue, Expenses and Changes in Net Position 2023 to 2022 <br /> (Attachment"B"): <br /> Retail store sales for June 2023 ($2,105,638) increased 9.53% while LBD sales <br /> ($382,880) decreased -5,63%. Payroll expenses ($288,793) increased $96,146 (49.91%), <br /> although operating expenses ($129,736) decreased by -$87,976 due to prior year-end <br /> adjustments. <br /> Total sales for the year ($31,209,167, up $1,158,701, 3.86%) established a new record <br /> for Orange County ABC, driven primarily by increased LBD sales ($5,125,307, up $550,126, <br /> 12.02%). <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 1 of 3 pages <br />