1976 Financials - LiquorMUNICIPAL LIQUOR
BALANCE SHEET
September 30, 1976
ASSETS
CURRENT ASSETS
Cash in Bank - Operating Fund $( 839)
Cash in Bank - Sinking Fund 9,695
Change Fund 500
Petty Cash 100
Investments - Operating 108,316
Investments - Sinking 42,304
Inventory 61,766
Prepaid Insurance 1,501
Bond Discount 3,626
Rebates Receivable 2, 261
Contract for Deed Receivable 86,400
TOTAL CURRENT ASSETS $315,630
FIXED ASSETS Cost Accum. Depr. Net
Land & Buildings $154,564 $1,503 $153,061
Furn. & Fixtures 37,402 3,397 34,005
TOTAL FIXED ASSETS 191,966 X4,900 X187,066
TOTAL ASSETS $502,696
LIABILITIES & EQUITY
CURRENT LIABILITIES
Accounts payable $18, 185
Salaries Payable 364
Accrued Payroll Taxes 1,279
Sales Tax Payable 1,410
Bond Interest Payable 2,184
TOTAL CURRENT LIABILITIES $ 23, 422
LONG TERM LIABILITIES
Bonds Payable $200,000
TOTAL LIABILITIES $223,422
EQUITY
Balance 1-1-76 $264,345
Net Income thru g-30-76 14,601
$278,946
Plus: Accrued Interest -
Bond Sale 328
TOTAL EQUITY X279,274
TOTAL LIABILITIES & EQUITY $502,696
MUNICIPAL LIQUOR
OPERATING STATEMENT
For the period 5-10-76 thru g-30-76
Liquor
Wine
Beer
TOTAL
Misc. Merchandise
TOTAL
Less: Freight
TOTAL GROSS INCOME
OPERATING EXPENSES
Sales Cost of Gross / to
Sales Profit Sales
$ 75,848 $ 60,196 $15,652 20.6
11,439 7,865 3,574 31.2
99,224 80,813 18,411 18.6
189,511 148,874 37,637
8,665 6,520 .2,145 24.8
$198,176 $155,394 $39,782 20.1
1,006 .5
$38,776 19.6
Salaries $ 12,103
Rent
Store Expense 1,610
Repairs & Maintenance 285
Utilities 3,281
Telephone 163
Fuel 373
Insurance 1,540
Depreciation 2,622
Audit Expense 1,0$0
N.S.F. Checks 258
Fringe Benef its 1,884
Misc. Expense 373
Advertising Expense 586
TOTAL OPERATING EXPENSES
OPERATING INCOME
OTHER EXPENSES
U. C. Fund Reimbursement $ 5,096
Interest Expense 9,016
TOTAL OTHER EXPENSES
OTHER INCOME
Cash over (short) -
Interest Income - Investments $ 2,367
Interest Income - Contract for Deed 2,907
TOTAL OTHER INCOME
NET INCOME
$26,128 13.2
$12,648 6.4
$14,112
7.1
$ 5,274 2.7
~ 3,810 1.9
MUNICIPAL LIQUOR
OPERATING STATEMENT
For 9 Months Ending 9-30-76
Sales Cost of Gross / to
Sales Profit Sales
Liquor $118,682 $ 93,509 $25,173 21.2
`vine 19,389 13,793 5,596 28.9
Beer 141,726 115,010 26,716 18.8
TOTAL 279,797 222,312 57,485
Misc. Merchandise 10,455 7,725 2,730 26.1
TOTAL $290,252 $230,037 $60,215 20.7
Less: Freight 1,761
TOTAL GROSS INCOME $58,454 20.1
OPERATING EXPENSES
Salaries ~ 22,984
Rent 1 , 430
Store Expense 2,118
Repairs & Maintenance 527
Utilities 3,398
Telephone 326
Fuel 373
Insurance 3,025
Depreciation 2,895
Audit Expense 1,050
N.S.F. Checks 237
Fringe Benefits 3,673
Misc. Expense 415
Advertising Expense 586
TOTAL OPERATING EXPENSES $43,037 14.8
OPERATING INCOME $15,417 5.3
OTHER EXPENSE
U. C. Fund Reimbursement $ 5,096
Interest Expense 9,016 (14,112)
OTH ER INCOME
Cash over (short) (6)
Interest Income 6,486
Interest Income - Contract for Deed 6,732
Misc. Income 84
TOTAL OTHER INCOME 13,296 4.6
NET INCOME $14,601 5.0
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