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City Council Regular Meeting Minutes <br />July 23, 2024 <br />Page 7 <br />1 January – June 2024-2023 Sales and Profit Comparison; 2024 Sales Projection; and 2024 Net <br />2 Income Projection spreadsheets were provided for Council consideration. <br />3 <br />4 The 2024 Accomplishments include: <br />5 City Goal Setting. <br />6 League of Minnesota Cities Conference. <br />7 Minnesota Municipal Beverage Association Conference. <br />8 MMBA/MLBA Legislative Day at the Capital. <br />9 Social Media Advertising & News Sharing Group. <br />10 Council Work Session regarding Cannabis Dispensary. <br />11 Energy Reduction Equipment Installation. <br />12 Municipal Cannabis Dispensary Meetings. <br />13 Installation of Driver’s License Scanning Equipment. <br />14 Alcohol Awareness Server Training Certification. <br />15 Spring Product Sampling Event. <br />16 Two Complete Physical Inventory Counts. <br />17 <br />18 Where we are now include: <br />19 Supply Chain Delivery Issues. <br />20 Inflationary Influence on Customers Purchasing Habits. <br />21 Cost of Products and Retail Prices Stabilizing. <br />22 Continued sales success of THC/CBD products. <br />23 Cannabis Dispensary. <br />24 <br />25 Plans for the future in 2024 include: <br />26 Planning for 2025 Capital Improvement Projects. <br />27 Reinvesting in the stores infrastructure and replacement needs. <br />28 Any needs to assist us for the future trends of the retail alcohol business. <br />29 Continued collaboration of products with distilleries. <br />30 Holiday Sampling Events. <br />31 THC/CBD/Hemp Products. <br />32 <br />33 More information about the Liquor Operations can be found on the website at www.savmn.com. <br />34 <br />35 Councilmember Doolan stated she appreciates that sales are down and expenses are up but there <br />36 is still a positive net profit. In Strategic Planning one of the stores is not doing as well as before <br />37 and have the marketing efforts helped this. Mr. Larson stated the sales are starting to come back. <br />38 The construction created different traffic patterns. A spring sampling was held. Silver Lake <br />39 Village has the higher sales at this point. There have been some very good weekends. <br />40 <br />41 Mayor Pro Tem Jenson stated he appreciates the management of inventory and costs. The <br />42 dedicated workforce at the stores should be commended. <br />43 <br />44 VII.REPORTS FROM CITY MANAGER AND COUNCIL MEMBERS. <br />45 <br />11