For those of you who don't check the TLC website, I thought I'd give you this public service announcement to show you where our money is going lol.
A MESSAGE FROM GARY GRIEF, EXECUTIVE DIRECTOR, TEXAS LOTTERY COMMISSION
On Sept. 15, the Texas Lottery announced record results for fiscal year 2014, our best year for sales and revenue in the Lottery's 22-year history. With $4.384 billion in sales, we surpassed last year's sales record which resulted in a contribution of $1.220 billion to Texas, our single largest annual transfer of revenue to the state.
This is the 11th consecutive year that the Texas Lottery generated more than $1 billion in contributions to the state of Texas.
This year's revenue transfer included $1.203 billion to the Foundation School Fund, the Lottery's single largest annual contribution to Texas public schools and a 4.8 percent increase over last year's contribution. With this revenue transfer, the Texas Lottery has contributed more than $17 billion to Texas public education.
The Foundation School Fund, administered by the Texas Education Agency, funds the operational needs and special program services for Texas school districts including teacher salaries, utilities, equipment, bilingual education, special education, gifted and talented education, and career and technical education.
Texas schools are not the only beneficiaries of the Texas Lottery's record sales. Sales of the Texas Lottery's veterans themed scratch-off games resulted in $11.5 million for the Fund for Veterans' Assistance, which is administered by the Texas Veterans Commission. This is the Lottery's largest single annual revenue transfer to the Fund for Veterans Assistance.
Since 2009, the Texas Lottery has contributed more than $39 million for important programs benefitting Texas veterans and their families. In a state with 1.7 million veterans, these programs provide Texas veterans with financial assistance, transportation services, Post-Traumatic Stress Disorder counseling and housing assistance.
The Texas Lottery saw strong sales across its entire scratch-off game portfolio. Scratch-off sales totaled more than $3.280 billion, the highest instant ticket sales in Texas Lottery history. In addition to robust sales, the Texas Lottery's careful spending kept administrative expenses to just 4.6 percent of fiscal year 2014 sales.
Texas Lottery players also had a great year with $2.81 billion collected in cash and merchandise prizes. For the state's more than 17,000 Texas Lottery retailers that collect a five percent commission on every lottery sale, commissions amounted to $219.5 million, the highest commission to retailers in Texas Lottery history.
We are thrilled to have surpassed our previous revenue record and I want to thank all of our players, retailers, vendors and staff for this outstanding achievement. All of us at the Texas Lottery recognize and appreciate our responsibility to generate revenue for Texas and we continue to strive to increase funding for public education and Texas veterans. We constantly pursue the use of technology and innovations to enhance the products we provide to customers and to reduce our operating expenses.
On behalf of the Texas Lottery, thank you for your support.
C'mon Gary, tell Joe to spin those balls tonight - and whisper these in his ears
*** 717, 702, 417***