ADOPTED FY2018 Budget 6-21-17
New Hanover County ABC Board
ADOPTED BUDGET DOCUMENT
Fiscal Year 2017 - 2018
The following budget establishing revenues and setting expense appropriations is hereby ADOPTED
and effective July 1, 2017 and ending June 30, 2018.
Section 1. Estimated Revenues. It is estimated that the revenues listed below will be available during the
fiscal year beginning July 1, 2017 and ending June 30, 2018 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 42,500,000
Other Income 5,000
Total Estimated Revenues 42,505,000
Section 2. Appropriations. The following expenses are hereby appropriated for fiscal year 2017 - 2018 and are
funded by the revenues made available through Section 1, herein.
Appropriations:
Taxes Based on Revenues 10,199,150
Cost of Goods Sold 22,100,000
Operating Expenses
Pay and Related 3,494,383
Alarm Service 7,600
Board Member-Per Diem 15,600
Breakage 3,000
Cash Short (Over) 1,000
Charge Card Fees 385,000
Dues & Subscriptions 5,200
Insurance-General 105,408
Janitor 7,000
Licenses & Other Taxes 2,000
Maintenance Agreements 91,000
Merchandise-Short (over) 3,000
Administrative Reserve 250,000
Professional Services 105,000
Repairs & Maintenance 97,100
Retirees' Health Care Expense (Cash Basis) 34,000
Supplies 115,000
Telephone & Internet 90,000
Training & Education 35,000
Travel 35,000
Utilities 118,000
Vehicle Expense 15,000
Total Operating Expenses 5,014,291
Capital Outlay:
Capital Projects 1,700,000
17th & Castle Streets 80'x80' Parking Lot 65,000
Buy-Ins Maximization Set Aside 500,000
Total Capital Outlay 2,265,000
Debt Service/Lease:
Not ApplicableNot applicable
-
Total Debt Service/Lease -
39,578,441
Estimated Expenditures Before Distributions
Distributions:
Local 3.5% Tax 1,047,243
Local $0.01 & $0.05 Bottle Tax 114,495
Alcohol Law Enforcement 520,200
Local Mixed Beverage Surcharge 960,500
Profit Distributions - County & Municipal 2,500,000
-
Total Distributions 5,142,438
Working Capital Retained (Appropriated Fund Balance - Restricted) (2,215,879)
42,505,000
Total Expenses, Distributions & Working Capital Retained
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 21st Day of June, 2017
New Hanover County ABC Board
ADOPTED BUDGET DOCUMENT
Budget Reconcilation for FY17/18
Reconciliation from Fund Accounting to Enterprise Accounting:
Total
Net Income After Distributions - Book Accounting (596,879)
Add:
Depreciation 600,000
Other Retiree Benefits 80,000
Deduct:
Retiree Health Benefits Paid (34,000)
Deduct: Capital Outlay (2,265,000)
Net Adjustments (2,215,879)
Net Income After Distributions - per Budget (Fund Accounting) (2,215,879)
Working Capital Retained (Appropriated Fund Balance - Unrestricted) - above (2,215,879)