Lottery Proceeds Top $259.7 Million for FY07
Mega Scratchers games and a record jackpot win helped the Missouri Lottery reach more than $259.7 million in proceeds during fiscal year 2007. The 2007 proceeds are slightly lower than FY06 record proceeds of $260.3 million. Today’s final monthly proceeds transfer to public education was $19,662,080, bringing the total proceeds transferred to Missouri’s public education during FY07 to $259,737,970 million. The June transfer is based on ticket sales in May.
"This past fiscal year, proceeds were right in line with the previous record fiscal year," said Larry Jansen, executive director of the Missouri Lottery. "We transferred our highest monthly proceeds ever in February - $27.7 million - which was based on January sales.
"While Missouri has enjoyed another successful year, our growth appears to be flattening," Jansen noted. "This is a trend happening throughout the Lottery industry. Our retailers also tell us that high gas prices are significantly impacting their in-store sales, which of course, includes Lottery tickets."
The Powerball jackpot surpassed $200 million three times during fiscal year 2007, including the jackpot being won in Missouri for the Lottery’s largest prize ever - a $254 million jackpot prize won by a St. Louis family in January 2007. In fiscal year 2006, however, Powerball jackpots included two record jackpots of $340 million on Oct. 19, 2005, and $365 million on Feb. 18, 2006. As a result, Powerball sales were approximately $20 million less than in 2006.
"The growth we have sustained is largely due to the phenomenal success of our Scratchers games, and occasional significant jackpots," Jansen added. "Our limited advertising resources hamper our ability to introduce new games and re-energize the rest of our product lines. We will continue to do the best we can with the resources we have available to us."
Proceeds from Missouri Lottery ticket sales in fiscal year 2007 were used for a variety of public education programs including: the Foundation Program, the A+ Schools Program, special education excess costs, the Vocational Rehabilitation program, the Early-Grade Literacy program, the Missouri College Guarantee Fund, and salaries, equipment, library purchases, and institution-based student financial aid at several public higher education locations. For a complete list of programs funded in FY07, visit the Lottery’s Web site at molottery.com.
From the start of the Lottery in January 1986 through fiscal year 1993, Lottery 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 more than $2.4 billion 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 3.9 percent of the total annual funding required for Missouri’s public education system.
"In addition to the near record sales and profits, we also set a new record low - the lowest percentage of sales (3.9 percent) spent on operating costs in the agency’s 20-year history," Jansen added.
For each dollar spent on the Lottery, more than 95 cents goes back to the citizens of the state in one form or another. Approximately 61.8 cents is returned to players as prizes, 28.3 cents goes to the state’s public education programs, 6 cents pays for retailers’ commissions, incentives and bonuses, and 3.9 cents is used for administrative costs.
HISTORY OF LOTTERY PROCEEDS
FY88 $80,047,009.25 (+.05)
FY89 $93,102,306.37 (+16.3)
FY90 $75,000,000.00 (-19.4)
FY91 $76,179,083.01 (+1.6)
FY92 $66,082,246.00 (-13.3)
FY93 $72,129,289.00 (+9.2)
FY94 $110,573,071.00* (+53.3)
FY95 $125,169,977.37* (+13.2)
FY96 $132,311,303.00* (+5.7)
FY97 $134,201,860.00* (+1.4)
FY98 147,134,560.00* (+9.6)
FY99 $150,578,471.00* (+2.3)
FY00 $155,819,955.00* (+3.5)
FY01 $156,918,454.00* (+.70)
FY02 $160,092,441.00* (+2)
FY03 $193,940,550.00* (+21.1)
FY04 $230,318,233.00* (+18.8)
FY05 $218,285,010.00* (-5.2)
FY06 $260,300,831.00* (+19.2)
FY07 $259,737,970.00** (-.2)**
Transfers to General Revenue - $542,540,033.63
Transfers to Education (FY94 - FY07) - $2,435,382,686.37**
* All proceeds sent to public education. All other years’ proceeds went to the General Revenue Fund.
** unaudited figures