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ABC store funds not going to help students learn ABC's

READ MORE: ABC store funds not going to help students learn ABC's
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The city of Southport is feeling the effects of the economic downturn, so much so, that the board of aldermen chose to reallocate funding generated from an unlikely source, its local ABC store. Since 1957, the city of Southport has been collecting net profits from its ABC store to support three area schools and the local hospital. But tighter economic times has changed the direction of where that money will go. “A lot of areas of revenues that we depend upon to do our job are down and we need to do everything to offset by spending less or maximizing revenue," said Southport City Manager Alan Thornton. The city has been gifting 35 percent of the store’s profits to Southport Elementary, South Brunswick Middle, South Brunswick High School, along with Dosher Hospital. When you break that down, each school has counted on more than $20,000 a year, and Dosher Hospital got around $13,000. Now that money will go back into the city's general fund to offset budget shortfalls, majority from a huge decline in revenues from the sales tax. The money will be used to fund things like the police department, fire and rescue, and city personnel. For years, the three schools have been using the extra money to help with updating technology, buying supplies, and staff development. Principal Vann Pennell at South Brunswick High said the loss of thousands will be felt, but knows the city has no choice. "I'm ok with it because I appreciate what they have done in the past. When the economic times get better, I'm sure they will look after us. I completely understand what they are doing."

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Southport's ABC Store Funds

I don't know how the economic bad times are hurting Southport as high as the taxes and the utilities bills are. I wonder where it all go! They should print out where all the money go! It got to be one of the highest places to live in the US.