Arkansas Lottery – Page 49

Report: Lottery Scholarship Funding Down From Last Year

Apr 13, 2017Jerry CoxArkansas LotteryArkansas Lottery

This week the Arkansas Lottery released its financial report for the month of March.

The report shows the Arkansas Lottery took in roughly $43.4 million, but paid out $6.2 million to scholarships–about 14 cents of every dollar.

Overall, despite being the Arkansas Lottery’s most lucrative month this fiscal year, the Lottery’s scholarship budget was very weak.

In fact, lottery scholarship funds are down nearly $3 million so far this fiscal year over this time last year.

Below is a breakdown of the Lottery’s income and scholarship funding since Fiscal Year 2017 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%
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%
March	43,405,541.56	6,204,704.75	14.3%
Total	$334,542,627.41	$57,169,080.52	17.1%

Lottery Gave 16 Cents on the Dollar to Scholarships in February

Mar 10, 2017Jerry CoxArkansas LotteryArkansas Lottery

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

Mar 3, 2017Jerry CoxArkansas LotteryArkansas Lottery

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.