Budget_Calculations_FY15_16_Pres_05120215
New Hanover County ABC Board
PROPOSED *** SECOND PASS *** BUDGET DOCUMENT, dated May 12, 2015
Fiscal Year 2015 - 2016
The following budget establishing revenues and setting expense appropriations is hereby PROPOSED
and effective July 1, 2015 and ending June 30, 2016.
Section 1. Estimated Revenues. It is estimated that the revenues listed below will be available during the
fiscal year beginning July 1, 2015 and ending June 30, 2016 to meet the operations and functional appropriations
as set forth in Section 2, in accordance with the chart of accounts prescribed by the NC ABC Commission.
Estimated Revenues:
Sales$ 39,448,463
Other Income 6,491
Total Estimated Revenues$ 39,454,954
Section 2. Appropriations. The following expenses are hereby appropriated for fiscal year 2014 - 2015 and are
funded by the revenues made available through Section 1, herein.
Appropriations:
StoresAdministrativeWarehouseTotal
Taxes Based on Revenues$ 9,557,404$ 9,557,404
$ 19,627,609$ 19,627,609
Cost of Goods Sold
Operating Expenses
Pay and Related$ 2,317,060$ 639,022$ 227,353$ 3,183,435
Alarm Service 6,168 312 1,014 7,494
Board Member-Per Diem - 15,600 - 15,600
Breakage 1,729 - 1,728 3,457
Cash Short (Over) 1,975 - - 1,975
Charge Card Fees 351,898 - - 351,898
Dues & Subscriptions - 4,660 - 4,660
Insurance-General 80,016 20,420 15,492 115,928
Janitor - 6,000 - 6,000
Licenses & Other Taxes - 960 - 960
Maintenance Agreements 51,516 19,104 9,972 80,592
Merchandise-Short (over) 3,960 - 3,959 7,919
Miscellaneous/Contingency - 144,000 - 144,000
Professional Services 12,740 48,480 - 61,220
Repairs & Maintenance 51,156 9,768 4,320 65,244
Retirees' Health Care Expense (Cash Basis) - 35,676 - 35,676
Supplies 66,444 16,884 4,320 87,648
Telephone & Internet 46,644 9,456 4,320 60,420
Training & Education 5,724 16,200 948 22,872
Proposed 5/12/2015Second PassFY2015/2016
Travel 6,264 21,650 - 27,914
Utilities 88,524 9,516 9,900 107,940
Vehicle Expense - 1,380 13,800 15,180
Total Operating Expenses 3,091,818 1,019,088 297,126 4,408,032
StoresAdministrativeWarehouseTotal
Capital Outlay: -
Renovation of 523 S 17th Street Building 2,300,000 2,300,000
Information Technology Improvements 91,500 91,500
Surveillance Improvements 20,000 20,000
Reserve for Emergency Repairs 20,500 20,500
-
Total Capital Outlay 2,432,000 - - 2,432,000
Debt Service/Lease:
Not ApplicableNot applicableNot applicableNot applicableNot applicable
-
Total Debt Service/Lease - - - -
34,708,831 1,019,088 297,126 36,025,045
Estimated Expenditures Before Distributions
x-check-----------> 36,025,045
Distributions:
Local 3.5% Tax 970,697
Local $0.01 & $0.05 Bottle Tax 113,872
Alcohol Law Enforcement 552,181
Local Mixed Beverage Surcharge 782,935
Profit Distributions - County & Municipal 2,163,422
-
Total Distributions 4,583,107
Working Capital Retained (Appropriated Fund Balance - Restricted) (1,153,198)
Total Expenses, Distributions & Working Capital Retained
$ 39,454,954
Section 3
. Copies of this Budget Document shall be furnished to the New Hanover County Board of Commissioners,
the North Carolina ABC Commission, the Budget Officer and Finance Officer to be kept on file by them for
their direction in the disbursement of funds.
Adopted by the New Hanover County Alcoholic Beverage Control Board this ___th day of ___ 2015.
Proposed 5/12/2015Second PassFY2015/2016
-
New Hanover County ABC Board
Proposed *** SECOND PASS *** Budget Document dated May 12, 2015
Budget Reconcilation for FY15/16
Reconciliation from Fund Accounting to Enterprise Accounting:
StoresAdministrativeWarehouseTotal
Net Income After Distributions - Book Accounting 721,138
Add:
Depreciation 337,374 145,476 23,688 506,538
Other Retiree Benefits 86,802 86,802
Deduct:
Retiree Health Benefits Paid (35,676) (35,676)
Deduct: Capital Outlay (2,432,000) - - (2,432,000)
Net Adjustments (2,094,626) 196,602 23,688 (1,874,336)
Net Income After Distributions - per Budget (Fund Accounting) (1,153,198)
Working Capital Retained (Appropriated Fund Balance - Unrestricted) - above (1,153,198)
(0)
Proposed 5/12/2015Second PassFY2015/2016