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ORANGE COUNTY ABC BOARD—AGENDA FORM
<br /> Meeting Date: March 17,2026 Agenda Item #5
<br /> Regular Session X
<br /> Presenter/Information Contact: Ron McCoy
<br /> Subject: FEBRUARY 2026 Monthly Financial Reports
<br /> Attachment(s):
<br /> 1. Attachment"Comparative Statement of Net Position for FEBRUARY 2026/2025."
<br /> 2. Attachment"Comparative Statement of Changes in Net Position for FEBRUARY 2026/2025."
<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:
<br /> After the inclement weather events of the previous month,February 2026 marked a return to normal
<br /> conditions with retail sales down-3.83%.However,LBD/commercial sales rebounded,increasing 3.58%.
<br /> 1. Comparative Statement of Net Position for FEBRUARY 2026 (Attachment"Page 3"):
<br /> In contrast to decreased sales for the fiscal year, cash held by the Board ($3,735,832) increased
<br /> $728,013, (+24.20%),primarily due to cash-flow control efforts and interest accrued on investments in
<br /> the Capital Management Trust.
<br /> Inventory,the Board's largest expenditure ($4,678,051)decreased -$349,963 (-6.96%). Inventory
<br /> levels are expected to rise, however, as trade accounts payable ($1,053,601) increased $286,255
<br /> (37.30%), due to product replenishment following the uptick in weather-related sales in January.
<br /> Other payroll and tax-related liabilities ($801,310)decreased-$26,460 (-3.20%).
<br /> Year to date income(-$119,870) decreased -$228,313 (-210.54%) from the previous year.
<br /> 2. Comparative Statement of Changes in Net Position for FEBRUARY 2026 to 2025
<br /> (Attachment"Page 411):
<br /> Retail sales ($1,731,890) declined -$68,999 (-3.83°/u), although LBD sales ($390,546) increased
<br /> $13,510 (3.580/,). With sales-related expenses down proportionately, gross profit ($522,079) was down
<br /> 419,654(-3.63%).
<br /> Payroll expenses for the month ($302,592)were up slightly, (+$1,086, 0.36%).
<br /> Operating expenses ($152,909) increased+$23,670 (18.31%), due to significant increases in store
<br /> expenses ($9,437) and exterior maintenance services ($13,923). These expenses included costs for
<br /> shelving reinstallation at Store 005 (Meadowmont), repair services to the retention pond at Store 003
<br /> (Chapel Hill North) and mulch installation at Store 010 (Oakdale Drive) and Store 003.
<br /> As a result of decreased profit and increased operating costs, net income for the month (after
<br /> depreciation) ($-83,152)was down-$43,513 (-109.77%).
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