HARRISBURG, Pa. — The Pennsylvania Liquor Control Board recorded its largest-ever net income and the largest-ever increase in annual sales in its history during the fiscal year 2020-21, according to unaudited financial results released by the Board on Wednesday.
Sales in the most recently completed fiscal year totaled $2.91 billion (including liquor and sales taxes), $349.4 million or 13.7% more than the prior year, according to the PLCB.
Additionally, fiscal year 2020-21 sales were $238.5 million -- or 8.9% higher than the PLCB’s previous (pre-COVID-19) record sales of $2.67 billion in fiscal year 2018-19, the PLCB said.
This resulted in net income for the year totaling a record $264.9 million, which was $56.1 million or 26.9% higher than the prior fiscal year, the PLCB said.
The increase in net income was due to increased gross profits from sales, which was partially offset by increases in operating expenses and decreases in other revenues like license fees, according to the PLCB.
Contributions to state and local governments and other beneficiaries totaled $813.4 million for the fiscal year.
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 $764.8 million. General Fund contributions consisted of the following:
- $415.8 million in liquor tax;
- $163.9 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:
- $29.2 million to the Pennsylvania State Police for liquor control enforcement efforts;
- $9.6 million in local sales taxes to Philadelphia and Allegheny counties;
- $1.8 million in licensing fees returned to local municipalities; and
- $5.3 million to the Department of Drug and Alcohol Programs.
Additionally, the PLCB authorized about $2 million in grants in fiscal year 2020-21 in support of Pennsylvania’s beer and wine industries and awarded $1.4 million in alcohol education grants during the year to reduce underage and dangerous drinking.
The PLCB is the only commonwealth enterprise fund whose financials are separately reported in accordance with Generally Accepted Accounting Principles.
