Lottery Audit
The Audit report for the first year of the North Carolina Education Lottery is out.
Click here to find a link to it.
The Lottery Commission is meeting this morning to discuss the results and I’m listening to that conference call. The audit looks at results through June 30, 2006, so doesn’t include anything from this fall.
Bottom line numbers so far in my reading: $229.5 million in gross revenue, with $63.5 million transferred to the various education funds during the first four months or so of operations.
Update: The audit was done by KPMG, who gave the lottery an "unqualified" opinion, which basically means they didn't find any major mistakes or malfeasance.
Update: The lottery commissioners have just been told that they’re probably going to be “covered persons” under the state ethics law. That means they’re going to have to fill out statements of economic interest and get trained on the new ethics laws.
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