“We couldn’t have reached this important milestone without the hard work and dedication of our lottery retailers and our players,” said Jim Scroggins, executive director of the Missouri Lottery. “These proceeds have undoubtedly made a huge impact on our state, especially public education.”
In addition to surpassing the $2 billion mark, this transfer also ends the Lottery’s fiscal year 2003 with record annual proceeds of $193,940,550. This is a 21 percent increase over the fiscal year 2002 total of $160 million, the previous annual record.
“These proceeds have funded many important programs and services in Missouri, mainly within the public education system” Scroggins said.
Proceeds from the Missouri Lottery have been used for things like advancing computer technology within our school systems, building and renovating buildings, providing salary supplements and professional development training for teachers and helping at-risk students graduate from high school.
The $2 billion in transfers represents the total amount in proceeds that the Missouri Lottery has earned since it began selling tickets on Jan. 20, 1986. Through fiscal year 1993, the Lottery’s proceeds of $542,540,033 went to the state’s General Revenue Fund. In August 1992, Missouri voters approved an amendment to direct all Lottery proceeds to public education, and since July 1993, when the law change took effect, the Lottery has contributed $1,466,740,642.37 to the state’s public education system.
Each year the proceeds are allocated by the governor and the state’s General Assembly during the annual appropriation process. These funds represent approximately 3 percent of the total annual funding required for Missouri’s public education system.
For each dollar spent on the Lottery, more than 92 cents goes back to the citizens of the state in one form or another. Fifty-nine cents is returned to players as prizes, 27.5 cents goes to the state’s public education programs, 7.5 cents is used for administrative costs and 6 cents pays for retailers’ commissions, incentives and bonuses.
For more information concerning Missouri Lottery proceeds, including complete lists of public education programs funded each year since July 1993, visit the Where the Money Goes section of the Missouri Lottery’s Web site. In addition, photos of various projects funded with Lottery money can also be found on the Web site by clicking on the “$2 Billion for Education & Missouri” logo found on the home page.
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