We thought you’d never ask! And actually, we have some good news to share.
The lottery just made its final proceeds transfer to the state for fiscal year 2009, and our total was up more than 7 percent from a year earlier.
Our preliminary figures show that lottery proceeds to the state in FY 2009 totaled more than $60.6 million. That’s the highest profits total from the sale of lotto, instant-scratch and pull-tab games since the lottery’s start in 1985. And that’s even with lottery sales being down a little for the year. Lottery sales totaled $243.3 million in FY 2009, down 2.4 percent from a year earlier.
So how can our numbers match up? It has to do with the success you can achieve with business flexibility.
In 2003, the lottery “got a makeover,” changing from being a state agency into the Iowa Lottery Authority, a corporate-model lottery that focuses on entrepreneurialism. That new flexibility has allowed us to make some important changes that have saved money.
In 2004, the lottery purchased both its headquarters building in Des Moines and the vending machines it currently uses to sell instant-scratch and pull-tab tickets in retail locations across the state. That’s resulted in long-term savings to the state, including a big change this year as the payments on the bonds we’d issued to buy the building and machines decreased from $2 million to $100,000.
We’re glad that our changes are making a difference for our state’s budget, especially in these tough economic times.
Another important project that’s made a big impact on the lottery are our games that benefit the Iowa Veterans Trust Fund. Legislation dedicating some lottery proceeds to veterans’ causes was signed into law by Governor Culver in March 2008. The Lottery’s first games to benefit the Veterans Trust Fund began sales in July 2008 and we’ll continue to create two new instant-scratch and two additional pull-tab games each year, with the proceeds from those games dedicated to the Trust Fund.
When we’d initially talked about the games, we’d estimated that they could raise between $2 million and $3 million annually to help Iowa veterans and their families through the Trust Fund. Well, we hit the very upper end of that range in FY 2009, raising nearly $2.8 million for the Iowa Veterans Trust Fund.
Our thanks go out to lottery players for recognizing this important cause and helping the lottery provide a stable, ongoing source of revenue for the Iowa Veterans Trust Fund!



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