Idaho Lottery pays $55.5 million dividend to public schools

Posted at 1:19 PM, Aug 12, 2020
and last updated 2020-08-12 15:19:36-04

BOISE, Idaho — The Idaho Lottery has announced a $55,500,000 dividend back to Idahoans. Since the lottery began in July 1989, it has returned $961.5 million, including this year's dividend.

"On behalf of the Idaho Lottery Commission, it is my great pleasure to present a dividend of $55.5 million to Governor Brad Little, Superintendent of Public Instruction Sheri Ybarra, the Chairman of the Permanent Building Fund Advisory Council Dee Jameson, and the People of Idaho. We know these monies are in good hands to build a bright future for Idaho," said Craig Corbett, Idaho Lottery Commission Chairman.

According to a release from Idaho Lottery, the total amount transferred to the Department of Education was $34,687,500. Of that amount, $20,812,500 is designated for the Department's districts based on average daily attendance for public school maintenance and operations expenses.

The remaining $13,875,000 is for the Department of Education's Bond Levy Equalization Fund. The Idaho Lottery has contributed over $551 million to these accounts in support of Public Education in Idaho.

"The Idaho Lottery has been supporting schools and students across the state through annual dividends for more than 30 years," Superintendent of Public Instruction Sherri Ybarra said. "This year, in a time of unprecedented challenges for Idaho's schools, nearly $35 million will go to much-needed projects such as electrical repairs, boiler upgrades, and fire safety equipment."

The Idaho Lottery also transferred $20,812,500 to the State of Idaho Permanent Building Fund Account. Since 1989, the Idaho Lottery has returned $422,725,000 to support permanent buildings at, among other places, Idaho's university campuses.

"This check provided by the Idaho Lottery will be used to fund necessary projects throughout the State of Idaho," said Dee Jameson, Permanent Building Fund Advisory Council Chairman. "Our state universities and colleges, state agencies, buildings that serve the citizens of Idaho all have needs that these funds will help keep YOUR state buildings in good repair and up to date. Thanks to the citizens of Idaho that play the Lottery."

The Idaho Lottery ended its Fiscal Year on June 30, recording $277.6 million in annual sales, awarding $185.7 million in prizes to players, and retailers earning $16.2 million in commissions.