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Education Lottery Fund Surpasses $530M

Posted February 1, 2008

N.C. Education Lottery
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— The North Carolina Education Lottery (NCEL) made its second transfer for fiscal year 2007-08 to the Education Lottery Fund, bringing the total transferred since inception to more than $530 million.

The NCEL transfer of more than $75 million to the State Education Lottery Fund is for sales for the 2nd quarter (Oct. 1 – Dec. 31) of the fiscal year. Gross sales for the quarter were $222.1 million.

The NCEL made the electronic transfer to the Office of State Budget and Management to be disbursed to these beneficiary programs: More at Four; class-size reduction, school construction and college scholarships for need-based students.

The Department of Public Instruction will manage the distribution of the funds for all the beneficiary programs except the college scholarships, which will be handled by the North Carolina State Education Assistance Authority.

Since its March 30, 2006, inception through Wednesday, the NCEL has surpassed $1.6 billion total gross sales.

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  • trunkmonkee1971 Feb 1, 2008

    Money will not resolve the education issue.

  • whatelseisnew Feb 1, 2008

    colliedave

    I called the 5.3 million paltry because when you lay it up against the billions being spent in this State alone on Education it is truly paltry. If there is value in it at all, it means that it is 5.3 million that the State and Counties are not extracting by force. My main point though is a lot of people refer back to the lottery questioning why is it not paying for things. It is simply because on the scale of total education spending even the 530 million dollar total is not very much when you spread it across the state. Personally, I have no problem with the lottery. People have the choice to purchase tickets or not. I prefer that over taxes.

  • casp3r Feb 1, 2008

    Yeah!!!!!!!!!! what she said.. lol

  • AM is Back to Being Immaculate Feb 1, 2008

    You people are a bunch of whiners. GET OVER IT! There are clearly enough people in NC that like and play the lottery and the state is getting their fair cut.

    Find another dead horse to beat.

  • jsanders Feb 1, 2008

    The lottery has turned out to be a tax on poor, unemployed North Carolinians already living in high-tax areas:
    http://www.johnlocke.org/press_releases/display_story.html?id=253

  • miked6500 Feb 1, 2008

    Lottery critics...SHUT UP!

  • OLD PIRATE 2 Feb 1, 2008

    HPR...she sure takes credit for everything else, like she personally increased the minimum wage, putting young people and many seniors out of jobs... oh lets don't get so picky...

  • OLD PIRATE 2 Feb 1, 2008

    That is also 112,000,000 in missing sales tax...it is also 1.6 billion that didn't go into local businesses (opps less 7%) to sales goods and services that hire people and produce goods and services.... folks its ain't all gravey!!!!

  • colliedave Feb 1, 2008

    that even were it divided equally across the 100 counties it is a paltry 5.3 million per county.

    I wouildn't call 5.4 million paltry. Stop busing for racial balance (aka, economic diverstity) and there will be another 3 million worth of cash. Enough to fund another layer of management!

  • Rolling Along Feb 1, 2008

    Quick call a legislative session and reduce the spending to the schools...they have $530million to spend...

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