NASHVILLE - This week’s close to the first six months of the Tennessee Lottery’s 2007-08 fiscal year brings total education profits 6.5 percent higher than for the same period during the previous fiscal year. The quarterly education profits of $68,675,000 for the quarter ending Dec. 31, 2007 brings the total raised for education since inception to $1,057,862,000.
“We’re proud to report continued growth,” said Rebecca Hargrove, President and CEO of the Tennessee Lottery. “Education in Tennessee continues to benefit from the hard work of so many, and we’re committed to continuing this momentum.”
Year-over-year, Tennessee Lottery profits for education have continued to grow. During fiscal year 2006-2007, for example, the total raised for education for the first two quarters (July 1-Dec. 31) was $130,193,000. That amount has grown by $8,393,000 (6.5 percent) to $138,586,000 during the current fiscal year. This total includes money raised for after-school programs resulting from unclaimed prizes.
“There continues to be more than enough funding to provide a grant or scholarship to every student who applies and qualifies,” said Hargrove. “We are pleased to be accomplishing our mission, helping make each day brighter for education in Tennessee.”
The Tennessee Lottery’s profits are used for specific programs such as HOPE Scholarships, Wilder-Naifeh technical grants, and pre-kindergarten programs. Funds raised from unclaimed prizes are used for after-school programs. For more information, please visit www.tnlottery.com. For information about Lottery-funded scholarships, visit www.collegepaystn.com.
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