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ORANGE COUNTY ABC BOARD—AGENDA FORM <br /> Meeting Date: June 17,2025 Agenda Item#5 <br /> Regular Session X <br /> i <br /> Presenter/Information Contact: Ron McCoy <br /> Subject: MAY 2025 Monthly Financial Reports <br /> i <br /> Attachment(s): <br /> 1. Attachment"Comparative Statement of Net Position for MAY 2025". <br /> 2. Attachment "Comparative Statement of Revenues, Expenses and Changes in Net Position for MAY <br /> 2025 and 2024." <br /> 3. Attachment"Actual to Budget Comparison for FY 2025." <br /> 4. Attachment"Comparative Statement of Monthly/Year-to-Date Retail Sales by Store." <br /> 5. Attachment"NC Statewide Report of Spirituous Liquor Sales." <br /> i <br /> Brief Summary/Explanations: <br /> 1. Comparative Statement of Net Position (Attachment"Page 311): <br /> With an additional transfer of$500,000 to the Capital Management account,total revenues held <br /> by the Board totaled$4,590,901,up $724,087 (18.73%)over the previous year. <br /> Total inventory ($4,092,241) decreased -$415,586(-9.22%), due to ongoing efforts to pare down <br /> expenses. Although trade accounts payable ($1,061,598)were up $98,487 (10.23%),the amount owed <br /> distillers was already reflected in the inventory total. <br /> Total taxes and liabilities($1,052,692)were up $29,487 (2.88%). Other current liabilities were <br /> up $150,913 (7.13%)while long-term liabilities declined-$389,786 (-10.05%). <br /> Year to date income ($78,832)was down-$429,323. <br /> I <br /> 2. Comparative Revenue,Expenses and Changes in Net Position 2024 to 2023 <br /> (Attachment"Page 411): <br /> Monthly sales($2,534,547)continued a six-month cycle of decline, down -$68,989 (-2.65%). <br /> Sales-related expenses were down accordingly,with taxes down-2.93% and cost of sales down-4.33%, <br /> leading to gross profit($619,339)being up $8,718 (1.43%). <br /> Total payroll expenses ($320,513)were down-$23,959 (-6.96%), due in part to significant <br /> savings in health insurance expenses (413.143). <br /> Total operating expenses ($129,071)were up $5,934(4.82%), due to increases in store expenses <br /> (+$2,690), credit card expenses (+$2,737)and vehicle expenses (+$1,159). <br /> Income before depreciation($62,578) increased$21,952 (54.03%). Income after depreciation <br /> ($19,759) increased$19,269. <br /> Page 1 of 7 pages <br />