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Published on Monday, July 2, 2012

One time revenue from liquor store auctions

Many cities have noticed an increase in their liquor profit distributions this quarter. This is the one-time revenue from the state’s auction of liquor stores we’ve been telling you about.  The auctions brought in an unanticipated $30.5 million. After expenses, half goes to the state general fund and half goes to local governments. This additional revenue you received represents the vast majority of what you will receive from the selling of state liquor assets.

As a reminder, beginning next quarter (September 2012), you will receive less liquor revenue than you have been. Although you will receive regular liquor profit distributions, plus a share of the $10 million for public safety specified in Initiative 1183, you will not receive any liquor excise tax distributions. The Legislature suspended the portion of excise taxes going to local governments until June 30, 2013.

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