Friday The Missouri Lottery transferred $21.8 million in profits from ticket sales in February to a public education fund. The monthly transfer of $21,890,126 brings the total for fiscal year 2018 to more than $228.3 million.
Since Missouri Lottery sales started in 1986, the Lottery has generated more than $5.9 billion for the state and public education. Annual Lottery proceeds comprise about 4 percent of the state’s funding for public education – an effort shared by local, state and federal governments.
Prior to each fiscal year, the Lottery averages the most recent five years’ profits for a “benchmark” and increases that amount by 1 percent to arrive at a prudent goal for the next fiscal year.
Programs currently funded in FY18 include the A+ Scholarship Program, the Foundation Program and Access Missouri, among many others.
In addition to providing funds for public education, the Lottery also benefits the state by collecting state taxes on prizes of more than $600. During FY17, the Lottery collected $3.6 million in state tax withholdings, along with another $664,000 in debt offsets for back taxes, child support, public defender fees and other state agency debts.