More local ABC boards lose money (Associated Press)
RALEIGH More than twice the number of government-run liquor store operations in North Carolina failed to turn a profit in the past fiscal year as in the year before.
Statistics presented Wednesday to Gov. Bev Perdue’s state government reform committee showed 24 local boards reported operating losses for the year ended June 30, compared to nine the previous year.
State Alcoholic Beverage Commission Chairman Jon Williams told the panel net profits from the more than 400 stores statewide fell 11.3 percent to almost $51 million. Higher sales and alcohol taxes that began late last year ate into those profits. Overall liquor sales grew 1.4 percent to $727 million.
The legislature approved new rules last summer requiring performance standards and streamlined budgeting for local boards.
Published Thu, Oct 21, 2010 02:00 AM
Modified Wed, Oct 20, 2010 10:02 PM
