Lottery earnings for state top $2B
Posted June 29, 2011
Raleigh, N.C. — With its final transfer of the 2010-11 fiscal year, the North Carolina Education Lottery has given more than $2 billion to the state since it began five years ago.
Transfers this fiscal year totaled $446.9 million, which officials said Wednesday was $5 million more than projected when the lottery approved its budget last June.
“There’s been lots of news about reductions in state spending for education, but citizens of North Carolina should know that the lottery’s contribution to education and the state has grown every year,” Alice Garland, lottery executive director, said in a statement. “Without the lottery, those reductions would have been much worse.”
About $27 million of the money transferred to the state this year covered a shortfall in federal Medicaid monies, officials said. The lottery budget required that any excess revenues from the previous year and half of any unclaimed prize money help cover that shortfall.
Almost $6.4 billion in lottery tickets have been sold since the games began in March 2006.