2020-11-13 12:00:08.723 Missouri Lottery Generates $27.9 Million in Monthly Profits for Education
2020-11-13 12:00:08.723
Profits from Missouri Lottery ticket sales in October have been sent to the Lottery Proceeds Fund for public education. The transfer of $27,908,017 brings the total for FY21, which began July 1, to more than $155.7 million.
Lottery proceeds make up approximately 4% 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% to arrive at a prudent goal for the next fiscal year. In FY20, the Lottery generated $333 million for vital education programs, including A+ scholarships. Complete information about Missouri Lottery proceeds, including the specific programs benefited in each county, can be found in the “Where the Money Goes” section.