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How does Oklahoma Education receive the promised funds?

April 26, 2017Education funds Oklahoma promised

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How does Oklahoma Education receive the promised funds?

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All net proceeds from ticket sales are deposited in a separate bank account. Quarterly, the Oklahoma Lottery Commission will transfer 35% of those proceeds to the Oklahoma Education Lottery Trust Fund. This Trust Fund is administered by the Office of the State Treasurer. The Oklahoma Lottery Commission (OLC) announced that total ticket sales for the fiscal year ending June 30, 2006 were $204.86 million, with total transfers to the State Treasurer for deposit into the Oklahoma Education Lottery Trust Fund exceeding $65 million.