Are local schools benefiting from the N.C. Education Lottery?
Many places statewide are reaping the rewards. Net proceeds to education from the state lottery (about 35 percent of all lottery dollars, as specified by the State Lottery Act) are already strictly earmarked for specific purposes when they’re collected, according to the N.C. Education Lottery Web site. Ninety-five percent goes to education, with the other five percent stored in the Education Lottery Reserve Fund as a fallback in case lottery proceeds fall short of target. That fund can’t grow larger than $50 million. The state’s Office of State Budget and Management distributes the rest of the money. Fifty percent is used for reduction of class size ratios to 18 children per teacher in early grades, and for pre-K programs for at-risk 4-year-olds. Another forty percent goes to school construction, which is distrubted according to total school enrollment per county and average effective county property tax rates above the state average based on school enrollment. The remaining ten percen
