NEW HANOVER COUNTY — Due to record profits last fiscal year, the New Hanover County ABC Board distributed millions of extra dollars to local municipalities.
The ABC Board exceeded net sales of more than $50 million for fiscal year 2022-2023, based on a recent completed audit statement. According to state law, once a board exceeds this level of profit, it reduces its maximum working capital from three months to two.
As a result, NHC ABC Board provided an extra distribution of $4.5 million to local governments.
New Hanover County received the greatest portion of the funds at $2.2 million.
“We are proud to be the beneficiaries of such a partnership, one that enhances our capacity to serve our community’s needs,” New Hanover County Board of Commissioners chair Bill Rivenbark said in a press release.
The City of Wilmington was awarded $1.4 million, which Mayor Bill Saffo said in the release helps support the city’s ongoing efforts to provide high-quality services to city residents and improve public safety.
The three beach towns also earned extra profits, with Wrightsville Beach receiving $484,209. Mayor Darryl Mills said the funding will help support upcoming recreation department projects and assisting with ABC law enforcement.
Carolina Beach received $403,505 and plans to use its share to complete additional infrastructure projects and improve public safety with community outreach efforts by the police department.
“Our partnership with the New Hanover County ABC Board has resulted in numerous community enhancing projects, and we thank them for all their hard work,” Carolina Beach Town Manager Bruce Oakley said in a release.
Kure Beach received $8,510, which finance officer Arlen Copenhaver said will be added to the town’s general fund.
The ABC Board also distributes earnings toward alcohol law enforcement and nonprofit organizations focused on services related to alcohol and substance abuse. Through tax distributions to the North Carolina Department of Health and Human Services, a portion of funds are dedicated to rehabilitation and related services for those struggling with addiction. Through New Hanover County, additional money goes to Trillium.
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