Lottery gives $385M to education in fiscal 2009
Posted June 23, 2009
Raleigh, N.C. — The North Carolina Education Lottery on Tuesday transferred another $78 million to the state for education spending, bringing the total for fiscal 2008-09 to $385.5 million.
Lottery officials said the total tops the goal set for the year, and a final transfer will be made in a few weeks to cover the proceeds from ticket sales in the last weeks of June.
"We are incredibly proud to have met this goal earlier than anticipated and that we can contribute to the state revenue during such tough economic times," lottery director Tom Shaheen said in a statement.
Since its inception in March 2006, the lottery has provided $1.1 billion to public education in North Carolina.
State law designates that 50 percent of proceeds be split between pre-kindergarten programs for at-risk 4-year-olds and reducing class sizes in the early grades, 40 percent to school construction and 10 percent to college scholarships.