California State Lottery Transfers $276,000,000; 4th Quarter Transfer to Lottery Education Fund.SACRAMENTO, Calif. -- The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). State Lottery A game of chance operated by a state government. Generally a lottery offers a person the chance to win a prize in exchange for something of lesser value. Most lotteries offer a large cash prize, and the chance to win the cash prize is typically available for one dollar. is pleased to announce its 4th quarter transfer of $276,000,000 to the Lottery lottery, scheme for distributing prizes by lot or other method of chance selection to persons who have paid for the opportunity to win. The term is not applicable when lots are drawn without payment by the interested parties to determine some matter, e.g. Education Fund, for fiscal year 2004-2005. This quarter's transfer culminates a 20-year record for the California State Lottery, by posting $3.33 billion in yearly sales and $1.17 billion for public education. This increase in sales allowed California's public schools to enjoy an additional $153 million more than originally budgeted. "We have welcomed more winners and given away more prizes than ever before," said Chon Gutierrez, Acting Director, California State Lottery. "This achievement resulted in an unprecedented $1.79 billion paid to winners and ultimately more funding to California's classrooms."
The 4th quarter numbers are as follows:
Operating Income $ 270,402,732
Interest and Other Income $ 3,802,187
Unclaimed Prizes $ 5,326,160
4th Quarter TOTAL to Education $ 279,531,079
$ -3,531,079(a)
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4th Quarter Transfer $ 276,000,000
Contributing to this record-breaking year were the highly popular Scratchers games, which brought in more than $1.73 billion, half of all ticket revenue and an increase from the previous year of $400 million. Additionally, the Lottery reduced its administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. to 12%, making it the lowest ever for a full fiscal year. Lottery funds support a variety of areas of public education including: K-12, community colleges, the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). , the California State University Enrollment  , adult education, charter schools and even
the California Youth Authority receives Lottery funds.
(a) $3,531,079 amount withheld pending audit. For more information on the California Lottery access www.calottery.com. |
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