PLCB reports record sales for 2014-15
The Pennsylvania Liquor Control Board today reported record sales of $2.34 billion for fiscal year 2014-15, a 4.2 percent increase over the prior year.
Net cash generated by operating activities totaled $139.1 million, according to the PLCB, which will transfer at least $80 million in profit to the general fund this year. The PLCB also deposited $334.4 million in liquor tax and $130.2 million in state sales tax into the general fund last fiscal year.
This was the first year for the commonwealth to report pension obligations on its comprehensive annual financial report, which also means it was the first year for the PLCB to report its share of the obligation.
All government employers are required to do so under the Government Accounting Standards Board's Statement No. 68.
The PLCB's obligation was determined to be $362.7 million, or 2.9 percent of the commonwealth's total unfunded pension liability of $12.3 billion.