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ORANGE COUNTY ABC BOARD—AGENDA FORM Meeting Date: June 17,2025 Agenda Item#8 Regular Session X Closed Session Section 4 Operating expenses have been reallocated between accounts as budgeted expenses have been decreased based on FY 2025 year-end projections. While repairs to buildings (+$18,835) and business insurance have been increased($3,649), most operating accounts have been decreased, leading to an increase of$86,188 in working capital/change in net position. Section 5 Interest income has been increased$14,950 based on earnings in the NC Capital Management Trust while"other income"has been adjusted-$200,resulting in an increase to change in net position of$14,750. Section 6 Capital expenditures have been amended to include funds for warehouse desks ($5,471) and an office computer($2,955), an earnest money deposit on the pending property acquisition($20,000), a modest increase in debt service ($202) and a minor adjustment to warehouse racking (42). The result is a decrease in working capital of-$28,626. Section 7 As capital expenditures are paid by funds held by the Board, "other financing sources"has been increased$55,739 to offset the total capital outlay of$367,994. Revised Annual Budget/Worksheet for Fiscal Year 2024 (Attachment"B"): Although depreciation is a non-budgetary item, it is included on financial statements. Therefore, it has been included at the bottom of the budget worksheet for the Board's consideration. The revised annual budget worksheet shows the FY 2025 budget, changes related to the mid-year amendment as well as the net changes due to the year-end amendment. Increases to working capital/change in net position are recorded in green font and decreases in red. The result of the year-end amendment is an increase to working capital/change in net position since mid-year of$32,011 (less an increase to depreciation) for a net balance of$70,046. i i Action Requested: 1. Review and discuss as needed. 2. Vote approval of budget amendment. I Financial Impact: See Above Staff Recommendations/Comments: None Page 2 of 5 pages