Some big news was just announced this week for us here at the lottery. But it’s not a big deal just for us: It’s also important for anyone who’s ever played one of our games. The Iowa Lottery has gotten another clean report from the State Auditor's Office.
In its announcement Wednesday, the Auditor’s Office noted that the financial statements of the lottery for FY 2017 “present fairly, in all material respects, the financial position of the Iowa Lottery Authority as of June 30, 2017, and the changes in its financial position and its cash flows for the year then ended in accordance with U.S. generally accepted accounting principles.”
Why does that matter? In everyday language, it means that an outside auditor reviewed the financial operations of the Iowa Lottery and gave us a clean bill of health.
We look at the auditor's report each year as a check of how we're doing. We’re proud of our record here at the lottery and know that integrity has to be at the heart of everything we do.
It’s just as important as the sales we achieve.
Under state law, the Auditor reviews the lottery’s operations annually. That review is in addition to the security and integrity standards the lottery uses throughout its operations every day. It’s our job to run Iowa lottery fairly – and we take that responsibility seriously.
A direct link to the report from the office of State Auditor Mary Mosiman is available here.