GA lottery transfers $1B to education -, GA News Weather & Sports

GA lottery transfers $1B to education

(Source: Georgia Lottery) (Source: Georgia Lottery)

ATLANTA (WTVM) – The Georgia Lottery Corporation’s annual fiscal year 2016 profit transfer to the State Treasure’s Lottery for Education Account has totaled more than $1 billion.

This is the first time the Georgia Lottery has transferred over $1 billion in a single fiscal year.

“We appreciate the commitment from our dedicated lottery and COAM retailers, players, vendor partners and employees. We are grateful to our board of directors for their leadership and guidance,” said Debbie Alford, president and CEO of the Georgia Lottery. “We’re proud to have reached the extraordinary milestone of raising over $1 billion for HOPE and Pre-K.”

Profits transferred surpass last year’s record transfer by more than $117 million.

Georgia Lottery players won $2.75 billion in prizes in FY16, and retailers earned over $270.7 million in commissions.

Fiscal year 2016 spanned from July 1, 2015, through June 30, 2016.

The total raised for educational programs in the state of Georgia is more than $17.6 billion since the lottery’s inception in 1993.

“Educational programs funded by the lottery continue to lay the groundwork for Georgia’s evolving and growing workforce,” Gov. Nathan Deal said. “FY 2016’s record-breaking profits will continue to help each child in Georgia attain a quality education from start to finish.”

The $1.097 billion transfer is the largest educational transfer in the lottery’s 23-year history.

Since its first year, the Georgia Lottery Corp. has returned more than $17.6 billion to the state of Georgia for education. All Georgia Lottery profits go to pay for specific educational programs, including Georgia’s HOPE Scholarship Program and Georgia’s Pre-K Program.

 More than 1.7 million students have received HOPE, and more than 1.4 million 4-year-olds have attended the statewide, voluntary prekindergarten program.

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