Yesterday the Arkansas Lottery released its financial report for the month of April.
According to the summary, the Arkansas Lottery took in roughly $33.9 million in April, and paid out $5.9 million–about 17% of its gross revenue–for scholarships.
Scholarship funds were down by more than $1 million from March, when the Lottery allocated $6.9 million for college scholarships.
Since July 1, 2014, the Arkansas Lottery has sold roughly $339.7 million worth of tickets, and has allocated $58.8 million for scholarships–again, about 17% of its revenue.
At this rate, the Arkansas Lottery ought to finish Fiscal Year 2015 with $71 – $75 million in its college scholarship fund–significantly less than the $81.2 million lottery officials initially budgeted for scholarships this year.
You can see a full breakdown of lottery revenue and scholarship allocation for Fiscal Year 2015 below.
|Month||Gross Lottery Revenue||Paid to Scholarships||% Gross Revenue|
Jerry is the founder and president of Family Council. He began Family Council in 1989 after a successful effort to amend the Arkansas Constitution to prevent the use of public funds for abortions. He and his wife reside in Little Rock. They have four sons.