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ORANGE COUNTY ABC BOARD
<br /> Open Meeting Board Minutes
<br /> Tuesday, October 17u', 2023, 10:00am
<br /> Location: 601 Valley Forge Road Hillsborough, NC 27278
<br /> Scheduled attendees:
<br /> Patrick Burns, Board Chair Elizabeth Carter, Member
<br /> Mike Zito, Member Tony DuBois, General Manager
<br /> Judson Williamson, Vice Chair Ron McCoy, Finance Officer
<br /> Angela Willoughby, Asst. GM Julie Mebane, Board Secretary
<br /> Amy Fowler, BOCC Liaison Melvin Green, Member
<br /> Mason Barringer - Auditor
<br /> Scheduled Absence: Chris Willett, Beemer, Hadler & Willett, P.A
<br /> Call to order at 10:00 am, a quorum was present and Mr. Burns, Board Chairman called the board
<br /> meeting to order.
<br /> Mr. Burns read the Mission Statement: The Mission of the Orange County ABC Board and our
<br /> employees is to serve our locality responsibly by controlling the sale of spirituous liquor, returning
<br /> profits to Law enforcement, Alcohol Education, and the County Fund while providing excellent
<br /> service in customer friendly, modern, and efficient stores.
<br /> Mr. Burns read the Conflict-of-Interest Statement. The question was asked: Does any member of
<br /> the Board have a conflict of interest or any condition or fact that might create the appearance of
<br /> a conflict of interest with respect to any matters on today's agenda?All present said nay
<br /> Approval of the Open Meeting Agenda: Mr. Zito made a motion to approve the agenda, Mr. Green
<br /> seconded the motion and the vote carried.
<br /> Minutes of the open session September 19, 2023: Mr. Green made a motion to approve the minutes,
<br /> NIr. Zito seconded the motion and the vote carried.
<br /> 2023 Audit Review: Mason Barringer, Auditor with DMJPS CPA's and Advisors, reviewed the
<br /> 2022/2023 audit report with board members.
<br /> Highlights of the audit review:
<br /> • Working capital (current assets less current liabilities) decreased by 14.18% over the prior year.
<br /> Current assets ($7,777,839) decreased -$214,083 while current liabilities($3,400,630) increased
<br /> $508,963, due primarily to the allocated net pension liability (state retirement) ($1,413,742,
<br /> 41,050,280)
<br /> . Approximately 11.5% of profits were expended for law enforcement (5% required) and 17.3%
<br /> for alcohol education/rehabilitation(7% required)
<br /> • Assets exceeded liabilities by $13,462,308, up from $12,256,768 in 2023
<br /> • Sales revenues of$31,208,975, up 3.86% from 2022, were the highest in the Board's history
<br /> • Total bottles sold in 2023 (2,020,888) was up 49,366 (2.50%)
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