According to a report published last week, the Arkansas Lottery budgeted less than eighteen cents of every dollar it made for scholarships in November.
The Arkansas Lottery grossed over $37 million in November, but paid less than $6.6 million in scholarships. That’s about 17.7% of the Lottery’s gross revenue.
Unfortunately this is not a new story. Month after month, year after year we have seen the Arkansas Lottery budget pathetic amounts of money for scholarships.
Below is a breakdown of the numbers so far for Fiscal Year 2017, which began last summer.
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% |
Total | $177,545,780.51 | $31,722,197.72 | 17.9% |