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The Pennsylvania Liquor Control Board on Wednesday released unaudited financial results for fiscal year 2020-2021 that show record net income and the largest annual sales increase in PLCB history. . This is $ 349.4 million or 13.7% more than the previous year. Fiscal 2020-21 sales were $ 238.5 million or 8.9% more than sales PLCB (pre-COVID-19) record high of $ 2.67 billion in fiscal year 2018-19.Net fiscal year revenue hit a record high of $ 264.9 million, or 56.1 million million dollars or 26.9% more than the previous year. The increase in net profit was due to the increase in gross profit from sales, which was partially offset by the increase in operating expenses and the decrease in other income such as license fees. Contributions to Governments, Other Recipients The PLCB said its contributions to state and local governments and other recipients totaled $ 813.4 million for the fiscal year. Contributions to the General Fund – which funds Pennsylvania’s schools, health and social services programs, law enforcement, and public safety initiatives, among other important public services – totaled $ 764.8 million. Contributions from the General Fund consisted of the following: $ 415.8 million in liquor tax. $ 163.9 million in state sales tax. $ 185.1 million in cash transfers. Other contributions from PLCB during the year included: $ 29.2 million to Pennsylvania State Police for liquor control enforcement efforts. $ 9.6 million in local sales taxes to Philadelphia and Allegheny counties. $ 1.8 million in license fees returned to local municipalities. $ 5.3 million to the Department of Drug and Alcohol Programs. The PLCB said it also authorized approximately $ 2 million in grants in fiscal year 2020-21 in support of Pennsylvania’s beer and wine industries and awarded $ 1.4 million in grants. to alcohol education throughout the year to reduce underage and dangerous alcohol consumption.
The Pennsylvania Liquor Control Board on Wednesday released unaudited financial results for fiscal year 2020-21 that show record net income and the largest annual sales increase in PLCB history.
Sales in the last fiscal year totaled $ 2.91 billion (including alcohol and sales taxes). That’s $ 349.4 million or 13.7% more than the previous year.
Fiscal 2020-21 sales were $ 238.5 million, 8.9% higher than PLCB’s (pre-COVID-19) record sales of $ 2.67 billion during the year. 2018-19 financial year.
Net income for the year reached a record $ 264.9 million, $ 56.1 million or 26.9% higher than the previous year. The increase in net income was attributable to the increase in gross profit from sales, which was partially offset by increases in operating expenses and decreases in other income such as license fees.
Contributions to governments, other beneficiaries
The PLCB said its contributions to state and local governments and other beneficiaries amounted to $ 813.4 million for the fiscal year.
Contributions to the General Fund – which funds Pennsylvania schools, health and social service programs, law enforcement, and public safety initiatives, among other important public services – totaled $ 764.8 million.
Contributions to the General Fund were as follows:
- $ 415.8 million in liquor tax.
- $ 163.9 million in state sales tax.
- $ 185.1 million in cash transfers.
Other contributions of the PLCB during the year included:
The PLCB said it also authorized approximately $ 2 million in grants in fiscal year 2020-21 to support Pennsylvania’s beer and wine industries and awarded $ 1.4 million in education grants to alcohol during the year to reduce underage and dangerous alcohol consumption.
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