PEI Liquor Control Commission 2018 Annual Report

Operational Overview The Prince Edward Island Liquor Control Commission’s Strategic Plan continued to guide activities through fiscal 2017-2018. Progress on strategic objectives is supported by annual business plans that set priorities for actions to meet objectives and timelines for their completion. The following is an overview of the performance in each of the five strategic objectives: Goal 1 Financial Performance

Goal To maximize net income within the policy guidelines established by the provincial government. Objectives 1. Achieve or exceed planned monetary transfer to the Provincial Government.

2. Achieve or exceed net income targets. 3. Increase traffic through liquor stores.

Actual 2016-2017

Target 2017-2018

Actual 2017-2018

% of Target 2017-2018

Target 2018-2019

Gross Receipts $108,007,179 $109,800,000 $114,030,030

103.9% $115,000,000

Gross Profit

$33,391,435 $34,100,000 $34,583,582

101.4% $34,800,000

Operating Expenses

$15,098,631 $15,603,500 $16,001,267

102.5% $16,165,400

Net Income

$20,792,045 $21,005,100

$21,377,733

101.8% $21,189,600

Monetary Transfers*

$39,943,962 $40,505,100 $41,385,656

102.2% $41,189,600

* Inclusive of Net Income and health tax transfers to government

The PEI Liquor Control Commission delivered both an increased net profit and an increased transfer to the provincial government in fiscal 2017-2018.

Gross receipts were $114,030,030 for the fiscal year ended March 31, 2018, an increase of $6,022,851 over the previous year. This increase came as a result of new sales and marketing initiatives. Net transfers for the year totaled $41,385,656. This year’s performance resulted in a $1,441,694 increase in the PEILCC’s contribution to the province over the previous year.

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PEILCC 2017-2018 Annual Report