Annual Report 2023: Revenues & Expenses
A view of operating and nonoperating revenues and expenses.
Revenues & Expenses
OPERATING REVENUES (Dollars in Thousands)
| JOBS | 12.31.23 | 12.31.22 |
| Retail net liquor sales | $1,342,457 | $1,331,753 |
| Wholesale net liquor sales | $425,509 | $408,363 |
| Distribution center revenue | $8,598 | $9,315 |
| JOBSOHIO | ||
| Interest income (loans) | $5,321 | $4,632 |
| Fees and other | $1,069 | $11,315 |
| Total operating revenues | $1,782,954 | $1,765,378 |
OPERATING EXPENSES (Dollars in Thousands)
| JOBS | 12.31.23 | 12.31.22 |
| Cost of goods sold | $1,052,773 | $1,032,373 |
| Sales commissions | $109,387 | $110,490 |
| Liquor gallonage taxes | $56,814 | $57,522 |
| Amortization of intangible asset (liquor franchise) | $55,197 | $55,197 |
| Service fees | $17,235 | $18,546 |
| Supplemental Payment | $102,388 | $99,098 |
| Other | $43,750 | $43,325 |
| JOBSOHIO | ||
| Economic development programs | $382,945 | $286,997 |
| Salaries and benefits | $26,290 | $23,542 |
| Professional services | $16,697 | $20,267 |
| Administrative and support | $11,560 | $11,631 |
| Marketing | $29,793 | $45,406 |
| Total operating expenses | $1,904,829 | $1,804,394 |
| Operating income (loss) | ($121,875) | ($39,016) |
NONOPERATING REVENUES (EXPENSES) (Dollars in Thousands)
| Revenues (Expenses) | 12.31.23 | 12.31.22 |
| Write-off of accounts receivable - long-term - JOBS | — | ($58,849) |
| Bond interest, net - JOBS | ($56,786) | ($42,458) |
| Investment income (loss) - JobsOhio | $79,862 | ($96,139) |
| Other, net - JOBS | $6,674 | $1,923 |
| Total nonoperating revenues (expenses) | $29,750 | ($195,523) |
| Change in net position | ($92,125) | ($234,539) |
| Net position, beginning of period | $375,411 | $609,940 |
| Restatement due to GASB 87 | — | $10 |
| Net position, beginning of period, as restated | $375,411 | $609,950 |
| Net position, end of period | $283,286 | $375,411 |