LOTTERY’S SUPPORT OF SCHOOLS CONTINUES TO GROW

A new Senate Fiscal Agency report says Lottery monies paid to the School Aid Fund have grown despite Michigan’s economic problems over the past decade. While finding a 23 percent growth in revenue from the Lottery during that time, the report also notes the money still only equates to 6.6 percent of the Fund’s total. The report also noted the percent of winnings paid to schools has declined as the Lottery Bureau has had to increase prize amounts to remain competitive with other gaming venues. Shortly after the law was changed in the mid-1980s assigning all Lottery revenue to schools, the Bureau transferred 40.5 percent of their total revenue of just over $1 billion to the Fund. By the 2008 Fiscal Year, the transfers represented just 30.2 percent of total Lottery revenue—which by then had risen to approximately $2.8 billion. While the percent transferred has declined, the report notes the actual monetary value of the payments has risen from $415.1 million to $724.5 million during that time period.