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July 27 - Georgia Lottery transfers more than $1 Billion to education after banner year

Category: Education/Colleges/Universities

Brunswick Business Journal Staff Report

July 27, 2016 - Gov. Nathan Deal has announced that the Georgia Lottery Corp. transferred its fiscal year 2016 profits, a total of $1.09 billion to the State Treasury’s Lottery for Education Account. This is the first time the Georgia Lottery has transferred more than $1 billion in a single fiscal year and is the largest funding transfer in the 23-year history of the lottery, according to Deal. 

“Educational programs funded by the lottery continue to lay the groundwork for Georgia’s evolving and growing workforce,” said Deal. “Since the inception of the Georgia Lottery in 1993, a total of $17.6 billion has been generated for educational programs. These funds have made it possible for more than 1.7 million college students to receive the HOPE scholarship and more than 1.4 million 4-year-olds to attend lottery-funded Pre-K programs. FY 2016’s record-breaking profits will continue to help each child in Georgia attain a quality education from start to finish.”

Profits transferred for FY 2016 surpassed the 2015 record by more than $117 million. FY 2016 profits also include funds generated from coin-operated amusement machines.

Proceeds from the Georgia Lottery are used to fund the HOPE Scholarship, the Georgia Pre-K Program for all 4-year-olds and capital outlay projects including technological upgrades for schools and universities across the state.

“We appreciate the commitment from our diligent retailers, players, vendor partners and employees,” added Georgia Lottery President and CEO Debbie D. Alford, in making the announcement.

 “We’re proud to have reached the phenomenal milestone of raising $1 billion for HOPE and Pre-K. Our success is a direct reflection of teamwork.”

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