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<br /> ORANGE COUNTY ABC BOARD—AGENDA FORM
<br /> Meeting Date: November 18, 2025 Agenda Item #4
<br /> Regular Session X
<br /> Presenter/Information Contact: Ron McCoy j
<br /> Subject: OCTOBER 2025 Monthly Financial Reports
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<br /> Attachment(s):
<br /> I. Attachment"Comparative Statement of Net Position for OCTOBER 2025/2024."
<br /> 2. Attachment"Comparative Statement of Changes in Net Position for OCTOBER 2025/2024."
<br /> 3. Attachment"Budget to Actual Comparison FY 2026."
<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 /> Brief Summary/Explanations:
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<br /> 1. Comparative Statement of Net Position for October 2025 (Attachment "Page 3"):
<br /> Cash held by the Board ($3,650,612) was up $220,355 (6.42%). Other current assets
<br /> ($7,537,432)were down-$356,066, down primarily to a decrease in inventory ($4,958,022), down
<br /> -$300,706 (-5.72%).
<br /> The decrease in inventory was further reflected in a decline in accounts payable
<br /> ($1,268,378), down-$284,555 (-18.32%). Taxes due ($976,930) were up 41,207 (4.40%)while the
<br /> note payable due on the Store 004 loan($2,134,898) declined-$158,161 (-6.90%).
<br /> Income for the year (-$58,247)decreased -$96,474 (-252.37%) from the previous year.
<br /> 2. Comparative Statement of Changes in Net Position for October 2025 to 2024
<br /> (Attachment "Page 4"):
<br /> With total sales of$2,680,679, retail store sales ($2,203,612) decreased -$44,921 (-2.00%)
<br /> while LBD/commercial sales ($477,028) increased $10,627 (2.28%), due primarily to increased
<br /> Halloween sales (Friday, 10/31). Gross profit for the month($629,287) declined -$81,362
<br /> (-11.45%), due to increased cost of sales ($1,425,913), up $54,266 (3.96%).
<br /> Total payroll expenses ($300,122)were down-$20,560 (-6.41%).
<br /> Total operating expenses ($151,764) were up $8,551 (+5.97%), due to increases in board
<br /> travel expenses(+2,081), uniforms (+$5,866) and rent (+$7,890).
<br /> Net income after depreciation(a profit of$28,371) was a decline of-$69,252 from the
<br /> same period last year. Year-to-date sales ($9,538,877) were down-$223,126 (-2.29%) from 2024.
<br /> 3. "Actual to Budget Comparison FY 2026" (Attachment"Page 511):
<br /> Although actual sales for the year are down -2.29%, budgeted sales are 2.15% above those
<br /> projected. Likewise,payroll expenses to date are approximately 2.89%below those expected.
<br /> Operational expenses, however, are approximately 1.59%above those budgeted, due in part
<br /> to additional costs in fees($5,830 to Orange County),uniforms ($2,866),equipment repairs,training
<br /> and board travel.
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