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SCEL Transfers $20 Million to Education

Columbia, SC: On Tuesday, October 14, 2003, the South Carolina Education Lottery (SCEL) transferred $20 million to the State Treasury for deposit into the Education Lottery Account (ELA). During the first 4 months of fiscal year ’04, the SCEL has transferred more than $78 million to the ELA.

Of the amount transferred, more than $4.5 million represents unclaimed prize money, which is appropriated for school buses and gambling addiction programs.

Each month the SCEL is required to turn over the net proceeds of the previous month’s sales. The Board of Economic Advisors (BEA) has forecasted the SCEL to transfer $173 million to the ELA this fiscal year. To date, the SCEL has met over 45 percent of this goal.

“We are prepared to meet the financial expectations set by the state for fiscal year ‘04, “said SCEL’s Executive Director, Ernie Passailaigue. “The lottery staff is striving to exceed the estimate and create additional educational opportunities for the citizens of South Carolina.”

Since January 2002, the SCEL has transferred more than $379 million to the State Education Lottery Account for distribution according to South Carolina Legislation. The SCEL’s net proceeds pay for specific educational programs, including South Carolina’s HOPE, LIFE and Palmetto Fellows Scholarships; the National Guard Scholarship Program; Lottery Tuition Assistance for two-year programs within the state’s university system; a wide range of technical upgrades for state colleges and universities; school buses; local libraries and gambling addiction services. For a complete listing of the legislative distribution of lottery dollars, please visit our website: www.sceducationlottery.com.

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