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City Council Regular Meeting Minutes <br />August 25, 2015 <br />Page 6 <br />1 and increased competition (brewpubs and new off -sale liquor stores). Mr. Larson reviewed the <br />2 2015 Sales Projection, the 2015 Net Income Projection, and 2015 Sales Comparison. 100% of <br />3 the profits go back into the community. Gross profit is down $90,000. Operating expenses have <br />4 been reduced by $37,000. The 2015 Sales Projection is $5,595,494. Net profit is estimated to be <br />5 $171,865. <br />7 Mr. Larson reviewed the 2015 Accomplishments: <br />8 • Passed an alcohol and tobacco sales compliance check <br />9 • Wine and beer sampling events <br />10 • Combined educational seminars with other municipal operations <br />11 • Physical inventory counts (.0042%) Inventory being rotated on a monthly basis. <br />12 • Completed connection of fiber optic to both locations and City buildings. A perpetual <br />13 inventory is run between both stores. This will also help with credit card compliance. The <br />14 fiber optic is making the store much more efficient. <br />15 • Winner of the Lillie Suburban Newspapers Readers Choice Awards — "Best Wine" and "Best <br />16 Beer" Selection <br />17 <br />18 Looking Ahead .... 2015 <br />19 • Upgrade Credit Card Services to meet Federal Credit Card Compliance Laws <br />20 • Legislative Issues <br />21 • Sampling Events <br />22 • Alcohol Server Training <br />23 • Security System Upgrade/Replacement <br />24 <br />25 Mr. Larson reviewed the Website www.stanthonyvillagewineandspirits.com: <br />26 • 2100 Visits per month <br />27 • Event Calendar <br />28 • Monthly Specials and Coupons <br />29 • Customer Survey <br />30 • Product Requests <br />31 • Store Hours and Locations <br />32 • Contact Information <br />33 <br />34 Mr. Larson thanked the Council for their support of the Liquor Operations and the residents. He <br />35 recently attended a Night to Unite event and received many positive comments about the stores <br />36 and staff. <br />37 <br />38 Mayor Faust stated the Council needs to be cognizant that the Liquor Operation is still making <br />39 money and keep the Mission in mind. He congratulated Mr. Larson and his staff for passing the <br />40 recent alcohol and tobacco sales compliance checks. Mayor Faust asked if the Liquor Operation <br />41 is able to purchase the same wine and spirits that Total Wine purchases and Mr. Larson stated <br />42 State Law regulates the proprietary brands and they are able to purchase the same items. National <br />43 Brands are heavily advertised. Mr. Larson stated they sell items to consumers based on their <br />44 preferences and needs. Profit margins are being reviewed when determining prices based on <br />45 what is going on in the economy at this time. <br />46 <br />