Liquor board releases results for fiscal year

The Pennsylvania Liquor Control Board (PLCB) recently released the unaudited financial results for fiscal year 2019-20.

Sales totaled $2.56 billion, including both liquor and sales taxes. This is $110.9 million less compared to the previous fiscal year.

The PLCB previously experienced year-over-year sales growth for the past 26 years. This fiscal year’s decline has been attributed to retail stores and e-commerce operations temporarily closing because of the COVID-19 pandemic.

Net income was $208.7 million, a 9.2 percent increase, and exceeded the PLCB’s $185.1 million contribution to the General Fund by $23.6 million. A decline in pension expenses and operating expenses related to other post-employment benefit costs caused the net income to increase.

Contributions to state and local governments and other beneficiaries totaled $745.1 million.

During the fiscal year, PLCB awarded $816,630 in alcohol education grants to reduce underage and dangerous drinking and authorized $2.2 million to support the beer and wine industries.

Unlike the rest of the state’s funds, the PLCB financials are reported separately under Generally Accepted Accounting Principles.

The PLCB regulates the distribution of beverage alcohol, operating more than 600 wine and spirits stores statewide and licensing more than 20,000 beverage alcohol producers and retailers.