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ABC Board reports about $5 million in sales and roughly $190,000 to Cramerton this year
Summary
Rick Hargis, chair of the ABC Board, told the Cramerton board the local ABC stores do about $5 million in annual sales and that this year the board will disburse about $190,000 to the town in total, including a recent $50,000 allocation.
Rick Hargis, chair of the Board of Alcoholic Beverage Control, updated the Town of Cramerton Board of Commissioners on March 18 about the board’s operations and local disbursements.
Hargis said the two local stores together do about $5 million in annual sales, with a cost of goods sold around 53 percent. He reported approximately $1.1 million goes to the State in excise taxes (from those two stores), roughly $500,000 is spent on wages and benefits, $142,000 was distributed directly to the Town of Cramerton this fiscal cycle, $17,000 was allocated for alcohol education, and $12,000 went to the Cramerton Police Department.
Hargis also said the board will add an extra $50,000 disbursement this year, bringing the total contribution to the town to about $190,000. He noted an older store near Food Lion is planned for upgrades and that the South New Hope Road widening project will temporarily reduce sales at the New Hope store; he said the board expects a drop during construction but has working capital to manage the downturn.
Commissioners thanked Hargis for the update and asked questions about revenue distribution and whether education funds could be expanded beyond public schools. Hargis said alcohol education funds have supported Cramerton High School and Middle School for the last three years and that the funds currently go to public schools, though he was open to discussing changes.
