Lottery Gave 16 Cents on the Dollar to Scholarships in February

March 10, 2017 | Posted in Arkansas Lottery | By

This afternoon the Arkansas Lottery posted its financial report for the month of February.

According to the report, the Arkansas Lottery grossed nearly $41.2 million, but gave less than $6.7 million to scholarships–about 16 cents of every dollar it made.

A new bill filed last week by Sen. Joyce Elliott (D-Little Rock) would require the Lottery to set aside at least 25% of its gross revenue for scholarships; under that bill, the Arkansas Lottery would have given nearly $10.3 million to scholarships in February.

Unfortunately, the Arkansas Lottery continues to budget a paltry amount of money for scholarships each month. Below is a breakdown of the numbers for Fiscal Year 2017.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $38,237,293.92 $8,714,386.39 22.8%
August 35,091,022.09 5,498,714.86 15.7%
September 33,113,391.64 5,773,076.42 17.4%
October 34,061,993.14 5,165,040.54 15.2%
November 37,042,079.72 6,570,979.51 17.7%
December 35,352,159.35 4,596,532.22 13.0%
January, 2017 37,062,291.39 7,947,546.21 21.4%
February 41,176,854.60 6,698,099.62 16.3%
Total $291,137,085.85 $50,964,375.77 17.5%

Good Bill Filed to Rein in Arkansas Lottery

March 3, 2017 | Posted in Arkansas Lottery | By

Rep. Warwick Sabin (D-Little Rock)

Sen. Joyce Elliott (D-Little Rock)

Today Sen. Joyce Elliott (D-Little Rock) and Rep. Warwick Sabin (D-Little Rock) filed S.B. 583.

This is a really good bill that simply requires the Arkansas Lottery to allocate at least 25% of its gross revenue for scholarships.

Right now the Arkansas Lottery allocates around 18%. To put that into the perspective, the average state lottery budgets approximately 30% of its gross revenue for education; Louisiana budgets 35%.

It’s simple math: If the Arkansas Lottery budgets a higher percentage of its money for scholarships, Arkansas’ college students will get more money. That’s what S.B. 583 does.

S.B. 583 is similar to legislation Family Council has supported in years past. We look forward to working with Sen. Elliott and Rep. Sabin to help pass this good, commonsense bill at the Arkansas Legislature.

Arkansas Lottery Continues Posting Low Scholarship Figures

February 10, 2017 | Posted in Arkansas Lottery | By

Today the Arkansas Lottery released its financial report for the month of January.

The report shows the Lottery took in over $38 million, and paid out less than $8 million to scholarships. This makes January one of the Arkansas Lottery’s better months, but scholarship funding is still low, with less than 21.5% of the Arkansas Lottery’s gross revenue actually being spent on college scholarships.

Lottery Scholarship Funds Supplemented with Tax Dollars

Right now the Arkansas Lottery is on track to pay out roughly $80 million in funding for Arkansas’ Academic Challenge Scholarship–which many refer to as the “Lottery Scholarship”–this fiscal year.

The State of Arkansas will pay another $25 million allocated by the Arkansas Legislature for Academic Challenge Scholarships.

Every year, the Arkansas Legislature’s Joint Budget Committee votes to supplement Arkansas’ Academic Challenge scholarships with state revenue. On average, nearly one-fourth of the the state’s “Lottery Scholarship” money doesn’t come from the Lottery at all. It comes from taxpayers.

There’s simply no way around it: The Arkansas Lottery continues to put up inexcusable numbers each month.

Below is a breakdown of lottery figures so far this fiscal year.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July, 2016 $38,237,293.92 $8,714,386.39 22.8%
August 35,091,022.09 5,498,714.86 15.7%
September 33,113,391.64 5,773,076.42 17.4%
October 34,061,993.14 5,165,040.54 15.2%
November 37,042,079.72 6,570,979.51 17.7%
December 35,352,159.35 4,596,532.22 13.0%
January, 2017 37,062,291.39 7,947,546.21 21.4%
Total $249,960,231.25 $44,266,276.15 17.7%