Fletcher ABC board reports strong sales growth, seeks town approval to raise fund balance and explore second store

Samantha Top, chair of the Fletcher ABC board, told the Fletcher Town Council the ABC store has seen sustained growth and operational improvements and asked the council for guidance as the board prepares a capital improvement plan and a request to raise its statutory maximum fund balance.

Top said gross sales have grown 49% over the past five years and were up 3% from last year. She said a recent performance audit showed more than $1 million in gross profits over the last two years and that the board’s distributions to the town are more than double the minimum required by statute.

Brandon Olsen, representing the Fletcher ABC board, echoed the audit’s positive findings and said the board currently delivers distributions that have averaged more than $300,000 a year, totaling roughly $1.5 million in the last five years. Olsen said the board is approaching the statutory maximum for its fund balance and plans to present a CIP at next month’s meeting and ask the council for approval to increase the cap so the board can set aside funds for a potential second store on Fletcher’s south end.

Board members said they have discussed possible sites with Poland Properties and are still in early planning; they noted a statutory separation requirement for new ABC stores of roughly 3.1 miles. Council members asked staff to look into statutory and auditor requirements for raising the maximum fund balance and to work with the board before the next meeting.

Store manager Brenley was praised for operational improvements and customer service; the council thanked the board for its report. The board will return with a CIP and a formal request for any change to the statutory fund balance.