Tuesday, April 27, 2004
ATLANTA – The Georgia Lottery Corporation (GLC) closed the books on the first three quarters of fiscal year 2004 by announcing the largest third quarter transfer to education in GLC history. The GLC will transfer its fiscal year 2004 third quarter profits to the State Treasury’s Lottery for Education Account in the amount of $212,584,000. This is the largest third quarter transfer in the history of the GLC. Additionally, this transfer ranks as the third largest transfer in GLC history.
Record-breaking first, second and third quarter transfers to the Lottery for Education Account in fiscal year 2004 will total more than $589 million – $53 million more than last year’s benchmark – making the first nine months of fiscal year 2004 the most successful start in the GLC’s 11-year history.
“The Georgia Lottery’s mission is to maximize revenues for education in Georgia,” said GLC President and CEO Margaret DeFrancisco. “The success we have enjoyed in the first nine months of fiscal year 2004 will benefit Georgia’s students.”
Lottery sales for the first three quarters of fiscal year 2004 surpassed $2.05 billion – more than $100 million ahead of where they were at this same time last year.
Since its first year, the Georgia Lottery Corporation has returned over $6 billion to the state of Georgia for education. Last fiscal year $360 million in lottery proceeds was awarded to Georgia’s HOPE Scholars and $252 million to Georgia’s Pre-K Program.
All Georgia Lottery profits go to pay for specific educational programs. These include Georgia’s HOPE scholarship program; a statewide, voluntary pre-kindergarten program for four-year-olds; and a wide range of technological and capital upgrades for the state’s schools, technical institutes, colleges, universities and public libraries.
For more information, please visit the Media Center on the GLC Web site at:
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Georgia Lottery Corporation
Media Relations Department