SACRAMENTO - The California State Lottery is pleased to announce its 4th quarter transfer of $276,000,000 to the Lottery Education Fund, for fiscal year 2004-2005. This quarter’s transfer culminates a 20-year record for the California State Lottery, by posting $3.33 billion in yearly sales and $1.17 billion for public education. This increase in sales allowed California’s public schools to enjoy an additional $153 million more than originally budgeted. “We have welcomed more winners and given away more prizes than ever before,” said Chon Gutierrez, Acting Director, California State Lottery. “This achievement resulted in an unprecedented $1.79 billion paid to winners and ultimately more funding to California’s classrooms.”
The 4th quarter numbers are as follows:
| Operating Income |
$ |
270,402,732 |
| Interest and Other Income |
$ |
3,802,187 |
| Unclaimed Prizes |
$ |
5,326,160 |
| 4th Quarter TOTAL to Education |
$ |
279,531,079 |
| |
$ |
<3,531,079>* |
| 4th Quarter Transfer |
$ |
276,000,000 |
Contributing to this record-breaking year were the highly popular Scratchers games, which brought in more than $1.73 billion, half of all ticket revenue and an increase from the previous year of $400 million. Additionally, the Lottery reduced its administrative costs to 12%, making it the lowest ever for a full fiscal year. Lottery funds support a variety of areas of public education including: K-12, community colleges, the University of California, the California State University, adult education, charter schools and even the California Youth Authority receives Lottery funds.
* $3,531,079 amount withheld pending audit.