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~~/iF]~ 2/95 <br />CIP FINANCES <br />• LIQUOR STORE FUND <br />At the end of each year, the Municipal Liquor Store typically has a net profit <br />of $50,000 to $75,000. This amount is aftex the transfers-out to the City <br />General Fund. Since 1987, over $1.4 million has been transferred and spent <br />on General Fund related activities. Of the $50,000 to $75,000 annual <br />remaining balance, most has gone into the x.and/Building Reserve fund for a <br />future second liquor store (Westbound) that is anticipated to be needed <br />within the next five years. Also, in January, 1995, approximately $387,000 <br />was spent on a site to relocate Northbound,. Some of this expenditure will be <br />recaptured when the existing Northbound,aite is sold. The Liquor Store fund <br />also retains a constant $300,000 in reservep for its inventory (or for <br />emergencies). <br />The annually designated transfers from the liquor store to the General Fund <br />are typically near the $150,000 range and include part of the payments for <br />the fire station and City Hall buildings. Im'1995, the Liquor Store is <br />anticipated to make a profit of approximately $250,000. However, a larger <br />than typical amount, approximately $200,000, is programmed to be <br />transferred into other City budgets. Accordingly, about $50,000 is available <br />• to flow into the LandlBuilding Reserve fund for the second liquor store or for <br />other activities, per Council direction. Curatently, we are short of the <br />necessary funds to finance a new liquor stone. <br />1/95 Land/Building Reserve (Cash) <br />(This is after the January, 1995 land' purchase) <br />1/95 Inventory Reserve <br />Total Reserve on 1/1/95 <br />1995 Profit Estimate <br />1995 Programmed Expenditures <br />Balance scheduled for the land/buildng reserve <br />• <br />$100,000 <br />300 000 <br />$400,000 <br />$250,000 <br />200 000 <br />$ 50,000 <br />Page 7 of 1] 3 <br />