MISSOURI (KFVS) - The Missouri Lottery made its first transfer of fiscal year 2018 July 14th by sending $18.9 million in profits to public education. The July transfer of $18,940,088 is based on sales in June.
Since Missouri Lottery sales started in 1986, the Lottery has generated more than $5.7 billion for the state and public education. Annual Lottery proceeds comprise about 4 percent of the state's funding for public education – an effort shared by local, state and federal governments.
Prior to each fiscal year, the Lottery averages the most recent five years' profits for a "benchmark" and increases that amount by 1 percent to arrive at a prudent goal for the next fiscal year.
Programs currently funded in FY18 include the A+ Scholarship Program, the Foundation Program and Access Missouri, among many others.