11-26-1984 Council Packet - Laserfiche WebLink

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Memo a84-67 / D COUNCIL MEETING NOV 2 G 1984 TO: City Council FROM: Tom Kuehn, Finance Director CITY OF ORONO DATE: November 16, 1984 SUBJECT: Giquor Store Operating Results - Three Months Ended June 30, 1984 Comparative liquor store operating statements for the second quarter of 1984 and 1983 are attached. Tie balance sheet and statement of revenue and expenses are somewhat condensed from prior reports but are essentially unchanged. The cost of sales st-item:ant has 13.�en expanded to show cost of sales by type, liquor, wine, beer, and mix and miscellaneous. The 1984 totals for liquor -wine and beer -mix are shown so that a comparison can be made with 1983. The more detailed information is not readily available for 1983 so this, method must be used until the first quarter of 1985. 4 seperate schedule is included for gross profit on sales by category - liquor, wine, beer, and mix and �nisrellarn�o+ls. As with the cost of sales, the gross profit statement compares the 1994-83 totals for liquor -wine, and beer -mix doe to information limitations. A condensed comparative statement of revenues and expenses is presented below. 88COND QUARTEP Y611R TO DA?L _ If ff — ---•---- 1981 — 1f83 _ _ Under) 1987 1984 1983�__ (Under) 19i] Sales net of discounts $111,061 $114,193 S (242) $199,485 $1981115 $9,179 Cost of Sales Gros• profic 88 279 --- iT;fif 81,131 --wiff (•S2) -"" v 142,175 __sf;ffi 136,208 -3i,if3 $5,975 Operating expenses Operating income (loss) �18 861 ].SfC 27,716 -_ S:f4r 2,34S -IT,"ifs) 58,228 __ _1ic 55,18t - (i,fill 3L128 fai Nonopecating income $69 398 471 I'S62 1,501 __ffX 61 Net income (Loss) $Z, f0 ........ 5-_fX%*i ........ ffr77") ........ f-- €ri .....,.. f- ........ 3--ffd ...... The seconu quarter of 1994 had income of $4,390 compared to the first quarter loss of $3,746. This is an income gain of $8, 136 between the first and second quarters. For the first half of 1984 the liquor operation had income of. $644 on sales of $1.99,485, compared to 1983 six month income of $328 on sales of $190,115. In the s«--(:ond half. of 1983 the liquor sales and income were $258,043 and $20,837 respectively. However, third quarter sales in 1984 are $22,250 lass than 1983 third quarter sales. With no significant changes in gross prof i t or expenses the th i rd quarter net income wi 11 approximate the second quarter. if. the 1984 fourth quarter equals 1983 the total income for the year 1984 will be about $12,999 to $15,000.