Last week the Arkansas Lottery published its financial report for the month of September.
The report shows the Arkansas Lottery took in $33.1 million in September–more than $1 million per day–but paid less than $5.8 million to scholarships.
In other words, less than 17.5 cents of every dollar the Lottery made last month actually went to scholarships.
Here’s a breakdown of the Arkansas Lottery’s revenue and scholarship funds for Fiscal Year 2017, which began last July:
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% |
Total |
$106,441,707.65 |
$19,986,177.67 |
18.8% |
At this rate, the Arkansas Lottery is on track to pay about $80 – $85 million in college scholarships in Fiscal Year 2017.
Here’s something very telling about the Arkansas Lottery, however: In 8 of the past 12 months the Arkansas Lottery budgeted less than 18% of its revenue for college scholarships.
To put those numbers into perspective, the average state lottery budgets about 30% of its revenue for its intended purpose; Louisiana gives 35% of its gross lottery revenue to education.
The fact that the Arkansas Lottery continues to budget such a small percentage of its gross revenue for scholarships speaks volumes about the Lottery’s priorities.
Here’s a breakdown of gross revenue and scholarship funds during the past 12 months at the Arkansas Lottery:
Month |
Gross Lottery Revenue |
Paid to Scholarships |
% Gross Revenue |
October, 2015 |
35,261,533.80 |
6,020,642.32 |
17.1% |
November |
32,226,599.28 |
5,725,139.09 |
17.8% |
December |
38,670,746.09 |
6,425,754.66 |
16.6% |
January, 2016 |
58,746,249.00 |
13,831,359.75 |
23.5% |
February |
40,790,144.05 |
4,474,356.06 |
11.0% |
March |
40,579,421.05 |
5,758,892.84 |
14.2% |
April |
37,516,802.47 |
7,392,837.00 |
19.7% |
May |
38,485,146.05 |
6,606,164.94 |
17.2% |
June |
34,983,951.24 |
11,249,220.37 |
32.2% |
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% |
Total |
$463,702,300.68 |
$87,470,544.70 |
18.9% |
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