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i <br /> I <br /> ORANGE COUNTY ABC BOARD—AGENDA FORM <br /> Meeting Date: January 21,2025 Agenda Item #6 <br /> Regular Session X <br /> Presenter/Information Contact: Ron McCoy <br /> Subject: DECEMBER 2024 Monthly Financial Reports � <br /> Attachment(s): <br /> 1. Attachment"Comparative Statement of Net Position for December 2024". <br /> 2. Attachment "Comparative Statement of Revenues, Expenses and Changes in Net Position <br /> for December 2024 and 2023." <br /> 3. Attachment"Comparative Statement of Monthly/Year-to-Date Retail Sales by Store." <br /> 4. 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 /> Total cash held by the Board in December ($4 643,441) increased by $94,722 (2.08%). The <br /> Board's largest current asset-inventory- ($4,956,398) increased by $148,785 (+3.09%). <br /> As a result, trade accounts payable ($1,554,272) increased $223,485 (16.79%). Other current <br /> liabilities($2,269,110) increased by$156,832 although long term liabilities($3,649,875)decreased by <br /> -$390,560. <br /> Year-to-date income ($220,479) decreased -$329,377, down -59.90%from the previous year. <br /> 2. Comparative Revenue,Expenses and Changes in Net Position 2024 to 2023 <br /> (Attachment"Page 4"): <br /> Calendarization was a prime consideration when comparing 2024 sales to the previous year. <br /> December 2023 had five full weekends(compared to this year's four)including the Fridays-Saturdays. j <br /> Nevertheless, with total sales of$3,493,539,2024 sales were down just -$96,468, (-2.69%). <br /> Payroll expenses ($331,811)were down -$73,434, (-18.12%), due primarily to"retention pay" <br /> paid in November of this year versus the first week of December in 2023. Operation expenses <br /> ($145,630)were also down due to the calendar(-$19,493, -11.81%). <br /> As a result,net income for the month(after depreciation) ($202,431)was up 36.03%. <br /> i <br /> i <br /> Page 1 of 6 pages <br />