Harrisburg, PA – The Pennsylvania Liquor Control Board (PLCB) released unaudited financial results for fiscal year 2020-21 that reflect record net income and the largest annual sales increase in PLCB history.
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. 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.
This resulted in net income for the year totaling a record $264.9 million, which was $56.1million or 26.9% higher than the prior fiscal year. 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.
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.
The PLCB regulates the distribution of beverage alcohol in Pennsylvania, operates about 600 wine and spirits stores and distribution centers statewide, and licenses 20,000 alcohol producers, retailers, and handlers. The PLCB also works to reduce and prevent dangerous and underage drinking through partnerships with schools, community groups, and licensees. Taxes and store profits – totaling nearly $18.7 billion since the agency’s inception – are returned to Pennsylvania’s General Fund, which finances Pennsylvania’s schools, health and human services programs, law enforcement, and public safety initiatives, among other important public services. The PLCB also provides financial support for the Pennsylvania State Police Bureau of Liquor Control Enforcement, the Department of Drug and Alcohol Programs, other state agencies, and local municipalities across the state. For more information about the PLCB, visit lcb.pa.gov.
For more information about the PLCB and to review the unaudited fiscal year 2020-21 financials, visit lcb.pa.gov.