| Lottery Transfer of Over $68.5 Million |
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| Monday, 30 June 2008 | |
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Today the North Carolina Education Lottery (NCEL) transferred $68,580,917 to the State Education Lottery Fund for sales during the first two months of the 4th quarter of the fiscal year (April 1 – May 31). This brings the total transferred to the State Education Fund for Fiscal Year 2007-2008, which runs July 1, 2007, through May 31, 2008, to $318,808,453.
“With one month to go in this fiscal year, we have surpassed last year’s transfer to education. We anticipate another sizable return for the month of June,” said Tom Shaheen, NCEL executive director. “All of us at NCEL are committed to supporting our core mission of raising money for education.”
Including today’s transfer, the NCEL has transferred a total of $696.7 million to the State Education Fund since its inception on March 30, 2006. The NCEL made the electronic transfer to the Office of State Budget and Management (OSBM) 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 inception (March 30, 2006) through June 23, 2008, the NCEL has surpassed $2.17 billion total gross sales. Over 95 cents of every dollar is returned to North Carolina in the form of beneficiary programs, prizes and retailer commissions. |
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