The Michigan Lottery Will Provide $1.3 Billion to the School Aid Fund in 2023
Governor Gretchen Whitmer and the Michigan Lottery announced last week that the fund will receive over $1.3 billion by the end of 2023. The Michigan Lottery has been making yearly payments to the fund of at least $1 billion for the last five years.
Tabulation of Michigan Lottery Funding
The breakdown of every dollar spent on a Michigan Lottery ticket for the Fiscal Year 2023 is as follows:
- Player prizes – 61 cents;
- School Aid Fund to support public education – 27 cents;
- Commissions for retailers and vendors – 9 cents;
- The Lottery’s operating and administrative expenses – 3 cents.
All lottery proceeds, as per Michigan state law, are sent to the School Aid Fund. Programs for public education in Michigan are supported by the School Aid Fund.
The Michigan Lottery has given the School Aid Fund contributions totaling more than $6.2 billion in the last five years.
In a statement, Whitmer noted that the state’s School Aid Fund would benefit from the Michigan Lottery’s sixth consecutive gift of more than $1 billion, which will enhance student assistance and educational outcomes.
Every Lottery ticket purchase assists neighborhood businesses in addition to the schools, sustaining the positive economic trend. The Lottery has a significant impact on communities across Michigan, returning about 97 cents of every dollar spent to Michiganders in the form of prizes, commissions to local businesses and suppliers, and donations to the School Aid Fund.
The School Aid Fund received a $1.25 billion contribution from the Michigan Lottery last year. It made a record-breaking $1.419 billion contribution to the fund in FY 2021.