September 19, 2001
LOTTERY MAKES LARGEST TRANSFER TO EDUCATION
Thanks to the $295 Powerball jackpot on Aug. 25, the Missouri Lottery today made the largest proceeds transfer in its 15-year history. Today’s transfer of $23,237,651, based on August sales, will be directed into the Lottery Proceeds Fund to benefit Missouri’s public education.
This monthly transfer brings the total revenues to education during fiscal year 2002 to more than $45 million, and the total proceeds to the state, including education, since the Lottery began in 1986 to more than $1.7 billion.
Prior to this transfer, the record highest was $22,135,726 in November 2000, when the Powerball jackpot rose to $130 million.
Approximately 29.5 cents of every dollar spent playing the Lottery goes to education. The Missouri Lottery’s contribution to public education is about 3 percent of education’s total annual funding.
Each year, the Legislature appropriates Lottery proceeds to various education programs. For a complete list of education programs funded in fiscal year 2002, visit the Lottery’s Web site at www.molottery.com.