02-23-1978 Council Minutes - Laserfiche WebLink

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�'EGULAR P�iE�TING OF THE ORONO COUNCIL, FEBRUARY 23, 1978 Page 72 "7:::��engale moved, PZayor Van Nest seconded, to REVFNUE & EXPENDITURE .ccept the 1977 fourth quarter Revenue & FxPenditure REPORT � .eport. P�otion, Ayes (5) - Nays (0) . Massengale moved, Pese}: seconded, to acce�t the SUPu4ARY OF RECEIPTS , etc Sur�u�ary of Receipts, Disbursements and Balances December 1977 for December 1977. P4otion, Ayes (5) - Nays (0) . Mayor Van P1est moved, P•iassengale seconded, to SUPu-1ARY OF RECEPITS, etc accept the Sunrlary of Receipts, Disbursements 1977 and Balances for 1977 year-end report. TZotion, Ayes (5) - Nays (0) . Dick IIenson, City Administrator, presented the LIQUOR STORE REPORT City Council with a report on Lic�uor Store Operations for the fourth quarter of 1977, ' . dated February 17, 1978, which states : The attached liquor store operating statements are a cornparison of the fourth quarters of 1977 an d 1976 and the twelve months ended December 31, 1977 and 1976. Fourtli quarter sales of 1977 are 8. 30 over the same oeriod of 1976. Fiowever, due to the increase in sales discounts , the gross profit for the fourth quarter of 1977 is up 6. 690; but as a percentage of sales is actually down 0. 44�. The year to date sales for 1977 are up 2. 13� over 1976; the gross profit is up 1. 62% over 1976; but, again, the gross profit percentage is down 0. 140. The third quarter operating expenses of 1977 are up 27. 20 over 1976 and the year to date operating expenses for 1977 are up 15. 3% over 1976. The result of the foregoing is that the third quarter 1977 operating income is down 24. 7% from 1976 and the year to date operating income for 1977 is down 22. 8� from 1976. The largest increase in the year to date operating expenses were for rent (up $3,150 or 38. 90) , _ insurance (up $3, 449 or 41. 40) , payroll taxes (up $449 or 12. 70) , and salaries (up $1, 944 or 5. 30) . Also in the fourth quarter of 1977, there was a write-off of 2J.S.F. checks in the amount of $1, 174. This was the first write-off since 1969 and I anticipate that the balance in the N.S .F. account will not be allowed to build up in this manner in the future but will be dealt with r.lore timely. (Continued)