Report shows finances of municipal liquor stores
ST. PAUL – Only 25 of 239 municipal liquor stores reported net losses in 2012, according to a report released Monday by State Auditor Rebecca Otto.
The number compares to 36 cities that reported 2011 losses, according to the report that provided comparative data on liquor operations owned and operated by Minnesota cities.
In 2012, Minnesota’s municipal liquor stores reported a 17th consecutive year of record sales totaling $329.6 million, up $12.4 million, or 3.9 percent, from 2011.
Combined 2012 net profit of all liquor stores was $27.3 million in 2012, up $3.9 million or 16.6 percent from 2011.
In 2012, state municipal liquor stores transferred $23 million of their profits to other city funds, a 14.3 percent increase over 2011. Over the past five years, net profits increased 33.7 percent.
Among cities with municipal liquor stores, Glencoe had $1,370,337 in 2012 sales and a $161,920 net profit; Redwood Falls had $1,888,619 sales and a $152,168 net profit and St. James had $1,022,746 sales and $170,256 net profit.
Other cities in the report and their net profits included Buffalo Lake, $18,126; Fairfax, $11,214; Hanska, $14,425; Madelia, $31,433; Olivia, $22,770; and Sleepy Eye, $24,667.
Hutchinson reported a $515,550 net profit and Marshall $549,007.
To view the complete report, including an executive summary, tables, charts, maps and graphs, visit www.auditor.state.mn.us/default.aspx?page=20140124.000
(Fritz Busch can be e-mailed at email@example.com).