The fiscal year 2022 proved to be a landmark year in more ways than one for the Idaho Lottery as it confirmed a record $73m in returns to the People of Idaho fund during the year’s trading.
Also celebrating surpassing a third of a century of operations, the lottery confirmed that total ticket sales surpassed $300m for the second time, reaching $376.3m in the year leading up to June 30, 2022.
“The Idaho Lottery has proven to be a responsible funding source for Idaho education for over three decades,” said the state’s Speaker Scott Bedke.
“Every dollar matters when it comes to investing in Idaho’s future. Every dollar that is returned by the Idaho Lottery to local communities for schools is a dollar that did not come from taxes. After thirty-three years, that’s now $1.1bn.”
As well as securing record transfers and sales, Idaho Lottery also celebrated historic highs in funds paid out to winners, with players netting $257.1m during FY22. Additionally, the network of retail partners earned a record commission fee of $22.1m.
This left $73m for the state’s funds, which are used by school districts for building maintenance, repairs, and operational projects. This year, White Pine Elementary School used its dividends to replace its carpet and repaint the school.
“We are at White Pine Elementary to witness the reason why the Idaho Lottery was created by a vote of the people thirty-three years ago – to responsibly do good,” added Jeff Anderson, Idaho Lottery Director.
“The project at White Pine Elementary is representative of the thousands of projects completed each year by local Idahoans, contractors and their tradesmen, related businesses, and suppliers.”
Breaking down the proceeds, $27.4m will go towards the School Building Fund account for maintenance and operations projects and a further $18.8m will go towards the Department for Educations Bond Levy Equalisation Fund to pay interest on the public school’s bonds.
“I am so happy to once again receive a record-setting dividend from the Idaho Lottery on behalf of Idaho’s public schools,” Superintendent of Public Instruction Sherri Ybarra concluded.
“For more than three decades, our districts and charter schools have looked to this generous gift for essential upgrades, repairs and maintenance of school buildings across the state. This year’s dividend of $45.6m brings the total that Idaho schools have received from the lottery to $629m over 33 years. That’s worth celebrating.”