Higher education officials are paying close attention to the negative trend because revenue from lottery tickets is the financial foundation for the popular Academic Challenge Scholarship Program. If the decline continues, the amounts of college scholarships may have to be lowered.
The decline in sales has been in scratch off tickets. Those tickets generally pay smaller prizes but consumers know immediately whether or not they have won. Last month sales of scratch off tickets went down by 20 percent, to
Sales of lottery tickets for enormous prizes, such as Powerball and Mega Millions, actually went up last month. For the first seven months of this fiscal year those sales are
The legislature has twice had to restructure scholarship amounts in response to declining lottery sales, which used to be closer to
Also, the Commission has discussed a change in regulations that would allow more types of retail outlets to sell lottery tickets.
The state lottery spent almost
The nine members of the commission are appointed by the governor, the President Pro Tem of the
The state auditor reported that the amount of unclaimed property claims have gone up 84 percent, in large part due to automation. Every year the auditor administers the Great Arkansas Treasure Hunt, a promotion designed to make people aware of any unclaimed property they may be entitled to.
In 2012 there were 7,554 claims for property, valued at
People claimed money and stocks from old safety deposit boxes. They received old refunds from utilities. They got stocks, securities and proceeds from mineral rights they had forgotten they owned, or never realized that they had inherited.
Now, claims can be filed online, rather than by filling out paper forms. To do so, go to this Internet address: www.auditor.ar.gov
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