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Michael F. Easley
Governor
State of North Carolina
Office of the Governor
Governor's Press Office
State Capitol, Raleigh, NC 27603-8001
(919) 733-5612 - Toll Free 1-800-662-7005
FAX (919) 733-5166
For Release: IMMEDIATE Contact: Seth Effron
Date: October 19, 2006 Phone: 919/733-5612
GOV. EASLEY ANNOUNCES EDUCATION LOTTERY ADDS $95 MILLION
TO HELP IMPROVE N.C. SCHOOLS
RALEIGH – Gov. Mike Easley announced today that as a result of the first quarterly transfer from the North Carolina Education Lottery, $95 million is available to help build new schools, cut class size in the early grades and provide higher education scholarships for needy students. Since the lottery started on March 30, a total of $145 million has been raised for education.
“The real lottery winners are our schoolchildren across the state who have greater access to pre-k classes, smaller class size, safe, modern school buildings and college scholarships,” said Easley. “To continue to be successful in the global economy, we must continue our investments in building a highly skilled and highly educated workforce. Money from the lottery assures education progress is paid for now and in the future.”
The first quarterly transfer made today from the Education Lottery into the Education Lottery Fund represents 35.6 percent of the $233.1 million total the lottery collected since July 1 and another $12 million from money raised through lottery ticket sales between March 30 and July 1 this year. Lottery officials say the total marks significant progress toward meeting the $425 million the General Assembly budgeted for the lottery to raise for education this fiscal year.
“As we continue to add games, interest in the lottery continues to grow,” said John McArthur, chairman of the N.C. Education Lottery Commission. “The money we raise helps make sure North Carolina school children have the education to put them in the winner’s circle in this competitive global economy.”
State law requires that at least 50 percent of the total proceeds from the lottery be paid out in prizes, no more than 8 percent for administrative costs, 7 percent to retailers and the remaining 35 percent go to education. Of the funds for education, 50 percent goes to cutting class size in early grades to 18 students per teacher and to the More at Four program for at-risk pre-kindergarten children, 40 percent for school construction and 10 percent for need-based scholarships for college, university and community college students in North Carolina.
On June 28, the Education Lottery transferred $50 million to the Education Lottery Fund, which can be tapped to ensure that programs supported by the Education Lottery receive full funding.
More information on the North Carolina Education Lottery can be found online at: www.nc-educationlottery.org
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| Full Text | Michael F. Easley Governor State of North Carolina Office of the Governor Governor's Press Office State Capitol, Raleigh, NC 27603-8001 (919) 733-5612 - Toll Free 1-800-662-7005 FAX (919) 733-5166 For Release: IMMEDIATE Contact: Seth Effron Date: October 19, 2006 Phone: 919/733-5612 GOV. EASLEY ANNOUNCES EDUCATION LOTTERY ADDS $95 MILLION TO HELP IMPROVE N.C. SCHOOLS RALEIGH – Gov. Mike Easley announced today that as a result of the first quarterly transfer from the North Carolina Education Lottery, $95 million is available to help build new schools, cut class size in the early grades and provide higher education scholarships for needy students. Since the lottery started on March 30, a total of $145 million has been raised for education. “The real lottery winners are our schoolchildren across the state who have greater access to pre-k classes, smaller class size, safe, modern school buildings and college scholarships,” said Easley. “To continue to be successful in the global economy, we must continue our investments in building a highly skilled and highly educated workforce. Money from the lottery assures education progress is paid for now and in the future.” The first quarterly transfer made today from the Education Lottery into the Education Lottery Fund represents 35.6 percent of the $233.1 million total the lottery collected since July 1 and another $12 million from money raised through lottery ticket sales between March 30 and July 1 this year. Lottery officials say the total marks significant progress toward meeting the $425 million the General Assembly budgeted for the lottery to raise for education this fiscal year. “As we continue to add games, interest in the lottery continues to grow,” said John McArthur, chairman of the N.C. Education Lottery Commission. “The money we raise helps make sure North Carolina school children have the education to put them in the winner’s circle in this competitive global economy.” State law requires that at least 50 percent of the total proceeds from the lottery be paid out in prizes, no more than 8 percent for administrative costs, 7 percent to retailers and the remaining 35 percent go to education. Of the funds for education, 50 percent goes to cutting class size in early grades to 18 students per teacher and to the More at Four program for at-risk pre-kindergarten children, 40 percent for school construction and 10 percent for need-based scholarships for college, university and community college students in North Carolina. On June 28, the Education Lottery transferred $50 million to the Education Lottery Fund, which can be tapped to ensure that programs supported by the Education Lottery receive full funding. More information on the North Carolina Education Lottery can be found online at: www.nc-educationlottery.org |