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Raleigh, N.C. — 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.
Education Lottery Fund Surpasses $530M
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February 1, 2008 1:16 p.m.
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.
February 1, 2008 1:12 p.m.
February 1, 2008 12:34 p.m.
Find another dead horse to beat.
February 1, 2008 12:15 p.m.
February 1, 2008 12:12 p.m.