5.3. SR 11-24-2003 - Laserfiche WebLink

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LIQUOR STORE Provides for the total operation of the Elk River Municipal Liquor store as authorized by Minnesota State Law and the Elk River City Council. 2004 BUDGET COMPARED WITH 2003 BUDGET The 2004 municipal liquor store operating budget is proposed in the amount of $998,200. This is a $61,200 or 6.5 percent increase over the adopted 2003 budget. A majority of this increase is in the transfers out category ~vhereby an additional $50,000 is being transferred into the general fund. The total transfer into the general fund in 2004 is proposed in the amount of $195,000. The only other additional expense of note in this budget is a $14,400 increase in personal services. This increase is necessary for general cost of living and employee step increases as stated in the wage plan. The 2004 budget also includes an $8,000 line item for other professional services. This expense relates to a market feasibility study for Westbound. Another item to note that over 3% of the operating budget is for credit card fees and this is simply the "price of doing business" in today's economy. It should further be noted that the dues paid to the Minnesota Municipal Liquor Association is projected to go down in 2004. A good share of the dues paid to the Association is to help educate the public and the legislators regarding the wine in grocery store issue. Total revenues for the liquor store are projected in the amount of $1,187,500 for 2004. This is a $100,850 or 9.3% increase over the 2003 budget. While this appears to be a large increase, it should be noted that the 2004 projections for total revenues are only 4.7% more than the actual amount received in 2002. Total revenues are anticipated to exceed total expenditures by $189,300 in 2004. The liquor store operation includes the liquor store manager plus 4 full time employees and anywhere between 4 and 7 part time employees depending upon the season.