The Idaho Lottery will give a $55.5m dividend to state residents after announcing that with the inclusion of this year’s dividend, it has now returned $961.5m since it began in July 1989.
Idaho’s public schools and the state’s Permanent Building Fund are the real winners of the Idaho Lottery. The near $1bn return, generated over 31 years, has been used to enhance public education, improve college campuses, and provide safe workforce buildings.
Lottery Commission Chairman Craig Corbett stated: “On behalf of the Idaho Lottery Commission, it is my great pleasure to present a dividend of $55.5m to Governor Brad Little, Superintendent of Public Instruction Sheri Ybarra, the Chairman of the Permanent Building Fund Advisory Council Dee Jameson, and the People of Idaho. We know these monies are in good hands to build a bright future for Idaho.”
Jeff Anderson, Idaho Lottery Director, commented: “This year we faced a significant test in responsibly providing meaningful resources to our beneficiaries, Idaho public schools and the Permanent Building Fund, but together with our players, our valued retailers, and vendors, we delivered.”
The total dividend transferred to the Department of Education was $34,687,500. Of that amount, $20,812,500 is earmarked for use by the Department’s districts based on average daily attendance for public school maintenance and operations expenses. The remaining $13,875,000 is for the Department of Education’s Bond Levy Equalization Fund.
“The Idaho Lottery has been supporting schools and students across the state through annual dividends for more than 30 years,” Superintendent of Public Instruction Sherri Ybarra said.
“This year, in a time of unprecedented challenges for Idaho’s schools, nearly $35m will go to much needed projects such as electrical repairs, boiler upgrades, and fire safety equipment.”
The Lottery also transferred $20,812,500 to the State of Idaho Permanent Building Fund Account. Since 1989, the Idaho Lottery has returned $422,725,000 back to support permanent buildings at, among other places, the state’s university campuses.
“This check provided by the Idaho Lottery will be used to fund necessary projects throughout the State of Idaho,” said Dee Jameson, Permanent Building Fund Advisory Council Chairman. “Our State universities and colleges, state agencies, buildings that serve the citizens of Idaho all have needs that these funds will help keep your state buildings in good repair and up to date. Thanks to the citizens of Idaho that play the lottery.”
The Idaho Lottery ended its Fiscal Year on June 30, recording $277.6m in annual sales, awarding $185.7m in prizes to players, with retailers earning $16.2m in commissions.