PA Liquor Control Board reports record retail sales and net income for fiscal year 2017-18
HARRISBURG — The Pennsylvania Liquor Control Board announced Wednesday that it set records in retail sales and net income in fiscal year 2017-18.
Sales in the most recently completed fiscal year total $2.59 billion (including liquor and sales taxes), a $67.8 million or 2.7 percent increase over the prior year and previous retail sales record, the PLCB said.
The PLCB has achieved year-over-year sales growth each year for at least the past two decades.
Net income for the year totaled a record $158.2 million, $53.4 million or 50.9 percent higher than the prior fiscal year, according to the PLCB. The substantial increase is due mainly to gross margin improvement, higher revenues from expired license auctions, and a commonwealth-wide credit to retiree medical expense related to settlement with a health insurer.
Contributions to state and local government beneficiaries totaled $749.6 million for the fiscal year, the PLCB reported.
Contributions to the General Fund, which finances Pennsylvania’s schools, health and human services programs, law enforcement, and public safety initiatives, among other important public services, totaled $702.6 million, the PLCB said.
General Fund contributions consisted of the following:
- $371.5 million in liquor tax;
- $146 million in state sales tax; and
- $185.1 million in cash transfers.
Other PLCB contributions over the course of the fiscal year included the following:
- $30.5 million to the Pennsylvania State Police for liquor control enforcement efforts;
- $9.4 million in local sales taxes to Philadelphia and Allegheny county;
- $4.6 million in licensing fees returned to local municipalities; and
- $2.5 million to the Department of Drug and Alcohol Programs.
Additionally, the PLCB authorized $1.8 million in grants in fiscal year 2017-18 in support of Pennsylvania’s beer and wine industries and awarded $1.2 million in alcohol education grants to reduce underage and dangerous drinking.
For more information about the PLCB and to review the unaudited fiscal year 2017-18 financials, visit www.lcb.pa.gov.
SOURCE: The Pennsylvania Liquor Control Board