August 1, 2012 -
Lawmakers will have an additional $48 million to spend on education construction and other enhancements under a revised Lottery scenario reached Tuesday by state economists. Tough economic times may be translating into higher revenues for the Department of Lottery, which would see total sales climb by $262 million more for the current fiscal year that began July 1 than economists estimated earlier this year. The boost in Lottery revenues translates into more money available to the Education Enhancement Trust Fund, which was created to augment tradition general revenue education funding. Going forward, however, Lottery proceeds will continue to exceed previous projects through 2015/16 but at a more moderate clip. Sales of scratch-off games were up 5.3 percent from previous projections while Lotto sales will be flat. PowerBall sales growth, though strong at 12 percent, will grow at nearly half the rate as previously expected.
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