Lottery News and Stories
TN Lottery Transfers $62.2 Million To Education Account
Tuesday, October 17, 2006 posted 12:05 PM EDT
The Tennessee Lottery’s transfer of $62.2 million to the state’s Lottery for Education Account Monday pushes the amount
raised for education to nearly $700 million, officials said.
“Not only does our performance remain healthy, but the number of Lottery awards given to students is on the rise,” said
Rebecca Paul, president and CEO of the Tennessee Lottery.
According to the Tennessee Student Assistance Corporation, the organization that oversees the Lottery-funded scholarship
programs, more than 65,000 students will receive awards during the 2006-2007 school year.
“These results are proof positive that the mission behind the creation of a Lottery is being accomplished,” said Ms.
Paul.
The first quarter transfer (for the period July 1-Sept. 30) is $62,281,000, bringing the total proceeds for the Lottery for
Education Account since inception to $682,837,000. In addition, the Lottery has transferred over $16,310,000 to the After-School
Program Account, which brings the total raised for education to $699,147,000.
Additional details about the funds generated by the Lottery since inception include:
For the period of Jan. 20, 2004 through Sept. 30, 2006
65,000 higher-education students are expected to receive Lottery-funded awards during the 2006-2007 school year
$50 million in Lottery funds has been allocated to fund specific pre-kindergarten programs since July 1, 2005
More than $2.5 billion in gross ticket sales
Over $1.4 billion in prizes won by players
$163.9 million paid in retailer commissions
$16.3 million raised for after-school programs
Total raised for education: $699.1 million
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