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Council notes liquor store revenue dip and $19,036 inventory adjustment ahead of February audit
Summary
Liquor Store Manager reported December sales down 10% and a $19,036 inventory adjustment that reduced net revenues; Clerk Treasurer said the adjustment stems from missing data in legacy software and the February audit may revise numbers.
Liquor Store Manager Lana Jacobson presented December financials showing combined gross sales down about 10% from the prior year and combined cost of goods sold up roughly 3.97% as a percentage of sales. Year-to-date net revenues are down 3.94% from the prior year, and Jacobson reported a $19,036 inventory adjustment that produced a steep month-over-month net-revenue decline (reported as a 50.72% drop in December vs. prior year).
City Clerk Treasurer Julie Roberts told the council that the inventory adjustment reflects numbers missing from the city’s old point-of-sale/accounting software and that a final audit, scheduled for the first week of February, will likely revise the figure. Roberts emphasized that "the Liquor Store is not losing money," noting the enterprise fund also supports the city through rent, cleaning, insurance and other payments that are not part of the transfer amount. The city acknowledged Jacobson’s requested vacation time (Jan. 24–Feb. 2) and approved the time off along with acknowledgement of the report.
Councilors asked questions about the year-end transfer and the inventory level (historically about $15,000 of inventory vs. about $5,000–$6,000 on hand this year). The council carried the motion to acknowledge the Liquor Store report and grant the requested time off by unanimous vote. The February audit and closeout are expected to provide updated figures.
