UPDATED: Friday, April 13, 2012 - 9:54am
Austin – The Texas Lottery Commission announced today that it reached a new milestone in transfers to the Foundation School Fund (FSF).
The agency transferred $76.2 million to the FSF on February 11. Total contributions since 1997 to the FSF, which supports public education in Texas, now exceed $13 billion.
Prior to 1997, Texas Lottery proceeds were allocated to the General Revenue Fund. The Texas Legislature dedicated Texas Lottery revenue to the FSF beginning in 1997. A total of more than $18.6 billion has been transferred to the state since the first ticket was sold in May of 1992.
“A high Mega Millions jackpot in January, and successful scratch-off games like our holiday suite of games and the Texas Lottery Black ticket helped us reach this important milestone,” said Texas Lottery Commission Executive Director Gary Grief. “We wouldn’t be able to make these contributions, however, without our network of retailers and the customer service they provide to our players."
Approximately 27 cents of every dollar earned by the Texas Lottery goes to the FSF to support Texas education. During Fiscal Year 2010, which ended August 31, 2010, a total of $1.095 billion was transferred to the state, including more than $1 billion that went directly to the FSF.
More than 95 percent of the Texas Lottery’s $3.74 billion in sales for FY 2010 was returned to the state and players in the form of prizes, transfers to the FSF, retailer bonuses and commissions, and other state programs.