Michigan Lottery contributes $1B to school fund for 1st time
The Michigan Lottery has raised more than $1 billion for public schools for the first time. The lottery announced Wednesday it contributed more than $1.07 billion to the school aid fund in the last fiscal year, a $129 million boost over the prior year. It was the largest one-year increase in the lottery’s 47-year history and the fifth straight record-setting year. Since the 2013-14 fiscal year, the lottery’s contribution to the $13.5 billion school aid fund is up $327 million, a 44% increase.
The fund also is funded with sales and use taxes, income taxes, property taxes, some federal funds as well as cigarette, liquor and other taxes. “This vital funding for our schools would not be possible without the support of our players and retailers, which we greatly appreciate,” said Commissioner Brian Neill. “Every Lottery purchase helps raise revenue for schools in our state.”
The lottery had $3.9 billion in sales in the fiscal year that ended Sept. 30, awarded more than $2.3 billion in prizes to players and gave more than $287 million in commissions to lottery retailers.