Home Back Issues March 2009 Bet on it: Lottery says it will deliver its $1.324 billion

Bet on it: Lottery says it will deliver its $1.324 billion

| Print |  Email
Archives - March 2009
Sunday, March 01, 2009
LotteryButton.jpg

SALEM Despite what the state predicts, the Oregon Lottery still plans to provide the budgeted $1.324 billion to support state schools, parks and natural resources, job creation, and gambling treatment programs.

The lottery revenue started slumping last fall with weekly drops of from $800,000 to $4 million. Oregon state economist Tom Potiowsky forecasts that lottery revenues will be off by more than $35 million for the 2007-2009 budget.  

But the lottery disagrees. Spokeswoman Mary Loftin says the lottery is on track to generate the budgeted $1.324 billion. So far, the lottery has provided the state with $1.165 billion, with one quarter left to go. If the lottery fails to meet its allocation goals, Loftin believes it will be by $10 million or less.

Agency budget cuts, new lottery games and advanced planning for revenue losses related to the smoking ban have helped to offset revenue losses. The agency also instituted a 5% budget cut internally, on par with other state agencies, although as a self-funded entity the cut was not mandated by the state. “It’s little dollars — $50 here, $80 there,” says Loftin. “We are doing everything we can to find every dime possible.”    

That money is especially important for already-struggling schools, as well as economic development programs. With some districts considering shortening their school year, cutting staff and even closing entire schools, the allocation of the full $936 million to the education system is critical.

Likewise, as the state unemployment rate continues to rise, lottery funds devoted to economic development, and more specifically to the Oregon Economic and Community Development Department, will play an important role in funding Oregon programs. NICOLE STORMBERG


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

More Articles

The Rail Baron

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Oil is gushing out of the U.S. and Canada, and much of it is coming from places that don’t have pipeline infrastructure. So it’s being shipped by rail.


Read more...

Gone Girl

News
Monday, September 29, 2014
roundup-logo-thumb-14BY LINDA BAKER | OB EDITOR

Wehby disappears, Kitzhaber fails to disclose and Seattle gets bike share before Portland.


Read more...

What I'm Reading

September 2014
Wednesday, August 27, 2014

Kim Ierian, President of Concorde Career Colleges, and Deborah Edward, Executive Director of Business for Culture & the Arts, share their recent reads.


Read more...

Fork & Bottle

October 2014
Thursday, September 25, 2014

National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.


Read more...

Two Sides of the Coin

Contributed Blogs
Friday, September 26, 2014
0926 iphone6-thumbBY JASON NORRIS | GUEST BLOGGER

This post focuses on the recent release of the new Apple iPhone as well as Alibaba's IPO, the largest U.S. IPO in history.


Read more...

What I'm Reading

October 2014
Thursday, September 25, 2014

Nick Herinckx, CEO of Obility, and Jake Weatherly, CEO of SheerID, share what they've been reading.


Read more...

October surprise

News
Sunday, October 12, 2014
roundup-logo-thumb-14BY LINDA BAKER

Cylvia Hayes, tabloid vs. watchdog journalism and the looming threat of a Cascadia earthquake.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS