The New Hanover County ABC Board budgeted $1.9 million in profit distributions for the fiscal year ending June 30, Dan Sykes, board chief executive officer, said in a statement released on July 30.
The recently completed fiscal year was “very successful,” Sykes said, but added the board is not resting on its laurels.
The entire seven-member board and three staff members recently returned from a convention in Asheville, Sykes said.
Thomas Wolfe, board chairman, is also on the board of directors of the N.C. Association of ABC Boards.
Sykes said that “although the cost of the convention was not inexpensive –about $10,800 — the board feels confident that it was a wise investment.”
He said the expense “does not include the individual costs to the board members of performing this civic service for four days each, and their out-of-pocket expenses not subject to reimbursement.”
Board participation in “business meetings and other sessions” was “very high,” Sykes said.
“Staff cultivated important lateral peer relationships, and the entire group lobbied for Wilmington to be the site for the 2014 convention.
“A gathering of this type could potentially attract over 600 participants, family members, and related (visitors) to this county,” Sykes said.
Sykes did not say when a choice would be made about the site for the 2014 ABC convention.
The county ABC board originally budgeted $1.5 million in profit distributions based on the fiscal year ending June 30, but “based on preliminary profits, the board voted to distribute an additional $400,000 of its profits,” Sykes said.
“Shortly after the decision was made, these funds were distributed in accordance with general statutes to the city of Wilmington, the three beach towns and the New Hanover County government. The total distributions of taxes, law enforcement, and profits distributions were the greatest in recent history,” Sykes said.
Date posted: July 31, 2012
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