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The Office of the State Auditor annually publishes a report analyzing the operation of municipal liquor stores in the State.The <br /> most recent year of published information is for the year ended December 31,2012. The statewide averages for all operations are <br /> summarized below. <br /> Off Sale <br /> 2010 2011 2012 <br /> Percent Percent Percent <br /> of Sales of Sales of Sales <br /> Sales 100.0 % 100.0 % 100.0 % <br /> Cost of sales 74.8 74.6 74.2 <br /> Gross profit 25.2 25.4 25.8 <br /> Operating expenses 17.1 17.1 16.5 <br /> Operating income 8.1 8.3 9.3 <br /> Nonoperating revenue(expense) (0.1) 0.1 (02) <br /> Income before transfers 8.0 % 8.4 % 9.1 % <br /> Source:Analysis of Municipal Liquor Store Operations,for the year ended December 31,2012. <br /> Published by the Minnesota Office of the State Auditor <br /> Municipal Liquor Fund Operations Summary <br /> $8,000,000 <br /> $7,000,000 Sales, $6,516,386 Sales, $6,753,521 <br /> Sales, $6,139,096 i <br /> $6,000,000 <br /> $5,000,000 <br /> $4,000,000 <br /> $3,000,000 <br /> $2,000,000 GP 28.6/o o GP 28.8% GP 30.3% <br /> $1,000,000 <br /> 13.5% 12.9% 14.2% <br /> $- <br /> 2011 2012 2013 <br /> Gross profit Cost of sales ♦ Sales (Operating expenses -I-Income before transfers <br /> Sales,gross profit and operating income increased consecutively the past two years.The gross profit percent of the City of 28.6- <br /> 30.3 percent remains above the state-wide average.Also,the City's percentage of income before transfers of 13.5, 12.9,and 14.2 <br /> for 2011,2012,and 2013,respectively,is significantly above the statewide averages. <br /> People <br /> +Process® <br /> Going <br /> Beyondthe <br /> -12- Narrlbers <br />