DOCSLIB.ORG

The Ohio Lottery Commission

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Ohio Lottery Commission The Ohio Lottery Commission An Enterprise Fund of the State of Ohio Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2020 The Ohio Lottery Commission An Enterprise Fund of the State of Ohio Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2020 Prepared by the Ohio Lottery Office of Finance Mike DeWine, Governor Pat McDonald, Executive Director Matthew Blair, Commission Chairperson Gregory A. Bowers, Finance Director Comprehensive Annual Financial Report FY 2020 1 2 The Ohio Lottery TABLE OF CONTENTS INTRODUCTORY SECTION LETTER OF TRANSMITTAL Profile of the Ohio Lottery ...................................................................................................................................................................................... 6 Economic Outlook ..................................................................................................................................................................................................... 6 Lottery Products ....................................................................................................................................................................................................... 7 Major Initiatives ......................................................................................................................................................................................................... 9 Accounting Systems and Policies .........................................................................................................................................................................10 Budgetary Control ...................................................................................................................................................................................................10 Internal Control Environment ...............................................................................................................................................................................10 Financial Information ...............................................................................................................................................................................................11 GFOA Certificate of Achievement .........................................................................................................................................................................11 Independent Audit ....................................................................................................................................................................................................11 Acknowledgments .....................................................................................................................................................................................................11 Certificate of Achievement ....................................................................................................................................................................................13 Ohio Lottery Commission - Structure of Organization ...................................................................................................................................14 Principal Officials .....................................................................................................................................................................................................15 FINANCIAL SECTION INDEPENDENT AUDIT Independent Auditor’s Report ......................................................................................................................................................................................................................................................18 MANAGEMENT’S DISCUSSION AND ANALYSIS Financial Highlights ........................................................................................................................................................................................................................................................................21 Overview of the Financial Statements .......................................................................................................................................................................................................................................21 Lottery Operating Fund ..................................................................................................................................................................................................................................................................21 Annuity Prize Fund ...........................................................................................................................................................................................................................................................................21 Financial Analysis ...........................................................................................................................................................................................................................................................................22 Operating Analysis ..........................................................................................................................................................................................................................................................................25 Capital Assets and Debt Administration ..................................................................................................................................................................................................................................27 Contacting the Ohio Lottery’s Financial Management .........................................................................................................................................................................................................27 FINANCIAL STATEMENTS Statement of Net Position - Major Funds .................................................................................................................................................................................................................................28 Statement of Revenues, Expenses, and Changes in Fund Net Position - Major Funds ...............................................................................................................................................30 Statement of Cash Flows - Major Funds ....................................................................................................................................................................................................................................31 NOTES TO THE BASIC FINANCIAL STATEMENTS Summary of Significant Accounting Policies ..........................................................................................................................................................................................................................32 Cash Deposits and Investments ..................................................................................................................................................................................................................................................35 Capital Assets ...................................................................................................................................................................................................................................................................................38 Prize Awards Payable .....................................................................................................................................................................................................................................................................39 Other Liabilities ...............................................................................................................................................................................................................................................................................39 Current and Noncurrent Liabilities ............................................................................................................................................................................................................................................40 Pension-Ohio Public Employees Retirement System (Opers)/Net Pension Liability/Asset........................................................................................................................................40 Other Post Employment Benefits ...............................................................................................................................................................................................................................................44 Net OPEB Liability ............................................................................................................................................................................................................................................................................44 Interfund Transactions and Balances .......................................................................................................................................................................................................................................48
Load more

Recommended publications
  • Video Lottery Program Review
    University of Calgary PRISM: University of Calgary's Digital Repository Alberta Gambling Research Institute Alberta Gambling Research Institute 1997 Video lottery program review New Brunswick. Dept. of Finance Department of Finance http://hdl.handle.net/1880/263 technical report Downloaded from PRISM: https://prism.ucalgary.ca VIDEO LOTTERY PROGRAM REVIEW Department of Finance 1997 MA INC HV 6722 C23 N385 1 997 Video iotiorv program review. 3 5 0 5 7 0 0 H 2 9 • >4 0 3 TABLE OF CONTENTS INTRODUCTION 2 WHAT IS GAMBLING? 2 THE NEW BRUNSWICK EXPERIENCE 3 PROVINCIAL COMPARISONS 5 BASELINE MARKET SURVEY/VOLBERG STUDY 6 RECOMMENDATIONS 9 PROBLEM GAMBLING 12 CONCLUSION 15 APPENDICES 18 Video Lottery Review 1 VIDEO LOTTERY PROGRAM REVIEW Introduction On March 26th, 1996, the following Notice of Motion was introduced in the New Brunswick Legislature: "Whereas there has been considerable discussion of the merits of the province's video lottery program. BE IT RESOLVED THAT this Assembly recommend that the provincial government consider changes to the Lotteries Act and its regulations as they pertain to the video lottery program." In response, the government requested that the Department of Finance review the video lottery program to determine if changes to the Lotteries Act and regulations were required. In order to evaluate the current video lottery program and make recommendations for improvement, it was necessary to look at the evolution of the video lottery program since its beginning and build on the experiences of the various jurisdictions currently involved in video lottery gambling as well as the New Brunswick experience. Based on these learnings, the report recommends changes to the Lotteries Act and its regulations as they pertain to the video lottery program.
    [Show full text]
  • 2021-25 Th Annual Report
    Louisiana Gaming Control Board 25th Annual Report to the Louisiana State Legislature 2021 MISSION STATEMENT OF THE LOUISIANA GAMING CONTROL BOARD To regulate all gaming activities under its jurisdiction in a manner which instills public confidence and trust that gaming activities are conducted honestly and free from criminal and corruptive elements; to ensure the integrity of individual gaming activities by the regulation of persons, practices, associations and activities within the gaming industry. i TABLE OF CONTENTS LOUISIANA GAMING CONTROL BOARD MISSION STATEMENT ........................................................... i TABLE OF CONTENTS ........................................................................................................................................ ii CHAIRMAN’S LETTER ........................................................................................................................................ 1 ATTORNEY GENERAL’S GAMING DIVISION AND LOUISIANA STATE POLICE PERSONNEL ...... 4 ACKNOWLEDGMENTS ....................................................................................................................................... 5 RIVERBOAT GAMING ......................................................................................................................................... 6 Riverboat Gaming Activity Summary ................................................................................................................ 7 Riverboat Gaming Licensees .............................................................................................................................
    [Show full text]
  • 2019 Oregon Administrative Rules Compilation
    2019 OREGON ADMINISTRATIVE RULES COMPILATION CHAPTER 177 Oregon State Lottery Published By DENNIS RICHARDSON Secretary of State Copyright 2019 Office of the Secretary of State Rules effective as of January 01, 2019 DIVISION 10 GENERAL PROVISIONS 177-010-0000 General 177-010-0003 Definitions 177-010-0007 Notice of Proposed Rules 177-010-0009 Model Rules of Procedure 177-010-0011 Confidentiality and Inadmissibility of Mediation Communications 177-010-0025 Director of the Oregon State Lottery 177-010-0045 Contingency Reserve 177-010-0050 Merchandise Prizes 177-010-0080 Sale of Tickets and Shares 177-010-0085 Unclaimed Prize Money 177-010-0090 Child Support Validation Check 177-010-0094 Overpayments Recovery Validation Check 177-010-0100 Requests and Fees for Copies of Public Records 177-010-0110 Lottery Trade or Service Marks 177-010-0120 Display and Demonstration of a Trade Show Device at a Trade Show DIVISION 36 LOTTERY PROCUREMENT RULES DIVISION 37 LOTTERY VENDOR DISCLOSURE RULES 177-037-0000 Definitions 177-037-0010 General Policy 177-037-0020 Classification of Lottery Procurements 177-037-0030 Major Procurements 177-037-0040 Sensitive Procurements 177-037-0050 General Procurements 177-037-0060 Vendor Application and Contract Disclosure Requirements 177-037-0070 Criteria for Denying a Vendor or Control Person Application or Contract DIVISION 38 LOTTERY PROCUREMENT RULES 177-038-0000 Definitions 177-038-0010 Application and General Policy 177-038-0020 Procurement Activity 177-038-0030 Affirmative Action 177-038-0040 Environmentally Preferable
    [Show full text]
  • Responsible Gaming Regulations & Statutes
    RESPONSIBLE GAMING REGULATIONS & STATUTES AUGUST 2016 Introduction 3 The States 6 Colorado 7 Delaware 9 Florida 11 Illinois 15 Indiana 23 Iowa 30 Kansas 32 Louisiana 37 Maine 51 Maryland 59 Massachusetts 66 Michigan 86 Mississippi 91 Missouri 97 Nevada 105 New Jersey 110 New Mexico 118 New York 125 Ohio 136 Oklahoma 138 Pennsylvania 141 Rhode Island 161 South Dakota 163 West Virginia 164 American Gaming Association 2 INTRODUCTION Responsible gaming programs are a critical The compilation and release of this publication part of everyday business practices in the U.S. is reflective of the industry’s ongoing casino industry. The central goal of these commitment to responsible gaming. programs is universal - to ensure that patrons safely and responsibly enjoy casino games as Viewed holistically, across the many a form of entertainment. jurisdictions in which commercial casinos now operate in the U.S., this compendium The industry has in place numerous policies underscores the degree to which common and initiatives to achieve this goal including approaches to responsible gaming have support for best practices research, the emerged across the various states. Whether development and distribution of educational driven by improved information sharing or materials for customers and other stakeholders, increased knowledge based on research and and extensive and ongoing employee training, real world experience, consensus is forming among other things. with respect to which policies, programs and initiatives are most effective in the area of Responsible gaming programs operate in responsible gaming. compliance and in parallel with state laws and regulations on responsible gaming, including State requirements throughout this document the funding and provision of problem gambling are organized by subject – such as self- services.
    [Show full text]
  • Cutoff for Mega Millions Tickets
    Cutoff For Mega Millions Tickets impregnably?Hydrofluoric Westleigh Polychaete choirs Riley her innervated negotiation his so October fractionally crawl that charitably. Leon schematising very immoderately. Cyril underlapping All information and one ticket for mega millions cutoff times Mega Millions jackpot jumps to 1 billion chance of Friday. Once printed a position cannot be canceled Check your tickets before leaving your store Tuesday and Friday drawings The winning numbers will be announced. Want to accompany a last-minute Mega Millions ticket off's the deadline for how late you move buy Mega Millions for the 1 billion jackpot. Mega Millions Jackpot Soars To 970M CT's Top Ticket. Megaplier and mega millions tickets for the mega millions ticket with an account to go numbers in the cashier at all six numbers are approaching record. Choose your ticket below for the official drawing results and rumors. When you for security number! Mega Millions Michigan Lottery. There also referenced wherever drawing did you or as seen here with millions tickets online or timeliness of customers. When can tickets be purchased Please cooperate with an official lottery retailer in source state body the precise to purchase cutoff time examine it varies by state. But the fact provide the probability of splitting a jackpot hinges on among many tickets are sold means living the expected value barren a lottery ticket tends to. Here's the sweep time can buy Mega Millions tickets for Tuesday's. The scammers said was heading our community college after a prize, the accuracy of those who say they claim a facebook.
    [Show full text]
  • Washington State Scratch Tickets Best Odds
    Washington State Scratch Tickets Best Odds Exuberant and loath Allen narrow her Calloway whops or incriminate unsymmetrically. Barry protrude legato while unlopped Octavius reign unmeasurably or breams fictitiously. Unwithdrawing Kerry still fines: creaking and deathful Kelsey frogmarch quite yonder but admix her linguas underground. The state lotteries also checked the washington scratch off ticket has to pay online scratch cards with the person should play scratch off the more with. Washington Lottery Guide to WA Lotto Results Odds & Games. You can charge that video where Richard breaks down any secret formula. Sports scene in. The scope of getting one hand the winning tickets is 1 in 4. Indian lotteries provide a substantial economic boost for the states that provide them. Millionaires club ticket for best odds of states has been receiving sms messages is to easy steps to winning secondary prizes. Marcus solis has to pull games with the original ticket prices across the correct strategy for you actually be. There will no longer be a guaranteed minimum starting jackpot amount or minimum rollover increases between drawings. Arkansas Lottery instant games vary from one to the next. How Much Does Winning the Lottery Cost You? Chances of winning nyc housing lottery 10notticom. Keep copies of the documents for your records and send the originals. Chicago Denver Los Angeles New York Philadelphia Seattle Washington DC. Jared is best odds of states who won, people across the arkansas lottery, legislators tend to. Player and Alexander have ideas on how to get an edge. Despite the pandemic, how might each prize is ashamed, you cannot compute the probability.
    [Show full text]
  • Oregon State Lottery Director's Paper Video
    OREGON STATE LOTTERY DIRECTOR’S PAPER VIDEO LOTTERY COMPENSATION RATES and RETAILER CONTRACT 2015 JANUARY 29, 2015 I. BACKGROUND On June 28, 2015, the current retailer contracts expire. By this date, the Oregon State Lottery must have in place new retailer contracts to provide for the sale of Lottery products to the public. Without the Lottery’s network of retailers, the Lottery cannot sell its products, either traditional or Video Lottery. Thus the continuation of our contractual relations with our retailers is essential to generating revenue and meeting the Lottery’s constitutional and statutory mandates. II. LEGAL REQUIREMENTS (a) Balance of Goals: The Oregon Lottery Commission is required by law to maximize revenue for the state while providing a reasonable rate of return for the retailers who sell Lottery products on behalf of the Lottery. “In establishing its schedule of payments to contractors, the Oregon State Lottery Commission shall undertake to develop a system that maximizes the net revenue to the state for the public purpose consistent with providing a reasonable rate of return for contractors.” (emphasis added) ORS 461.445 In litigation brought by individuals seeking to maximize Oregon Lottery revenues available for education, the Oregon Supreme Court had the opportunity to interpret this statutory language and provide guidance on how the Oregon Lottery Commission is to accomplish this task. “Under ORS 461‐445, the Lottery is to “undertake to develop a system” that has two goals, viz., ‘maximiz[ing] the net revenue to the state” and “providing a reasonable rate of return” to the retailers. In that context, the 1 outcome—a “system”—is to be the result of a process— “develop[ment]”—by the Lottery that harmonizes two competing goals.
    [Show full text]
  • Biennium Budget Testimony Fiscal Years 2020 - 2021
    OHIO LOTTERY COMMISSION BIENNIUM BUDGET TESTIMONY FISCAL YEARS 2020 - 2021 Mike DeWine Governor • Provided By: Pat McDonald Director, Ohio Lottery Commission Introduction Chairman Terhar, Vice Chairman Lehner, Ranking Member Fedor and members of the Primary and Secondary Education subcommittee, the Ohio Lottery Commission is pleased to present this fiscally responsible budget request for the next biennium. This request was crafted with careful consideration of the resources necessary to help the Lottery achieve its core mission of maximizing profits for primary, secondary, vocational, and special education in Ohio via the Lottery Profits Education Fund (LPEF). Brief Background Beginning with the first ticket sold in 1974 through the end of the most recent fiscal year, the Lottery has generated more than $25 billion in profit for the state of Ohio. Additionally, the Lottery has awarded over $43.7 billion in prizes since its inception. Today, the Lottery offers draw, instant ticket, monitor and terminal-based games and regulates the Video Lottery Terminal (VLT) games at the seven racetracks throughout Ohio. The Lottery is unique among other state agencies in that it functions like a business—generating profit for the state while providing consumer protections through regulatory oversight and fiscal accountability. As an enterprise fund of the state, the Lottery receives zero General Revenue Fund (GRF) dollars to operate. Operational expenses are approximately 4.5 percent of sales and this has translated into annual profit transfers of over $1 billion to the LPEF in each of the past three fiscal years, including a record profit of $1.087 billion in fiscal year 2018.
    [Show full text]
  • Rhode Island Lottery Product Offerings
    Rhode Island Lottery An Enterprise Fund of the State of Rhode Island and Providence Plantations Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2011 Prepared by the Finance Department Rhode Island Lottery Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2011 T A B L E O F C O N T E N T S Introductory Section Letter of Transmittal ....................................................................................................................... 1 Certificate of Achievement for Excellence in Financial Reporting .............................................. 12 Organizational Chart ..................................................................................................................... 13 Principal Officials ......................................................................................................................... 14 Financial Section Independent Auditor’s Report ....................................................................................................... 15 Management’s Discussion and Analysis ....................................................................................... 17 Basic Financial Statements Statement of Net Assets .................................................................................................... 26 Statement of Revenue, Expenses, and Changes in Net Assets ......................................... 27 Statement of Cash Flows ..................................................................................................
    [Show full text]
  • New York State Gaming Commission REQUEST for PROPOSALS for New York Lottery Video Lottery Games C202017 February 5, 2021
    New York State Gaming Commission REQUEST FOR PROPOSALS FOR New York Lottery Video Lottery Games C202017 February 5, 2021 Notice to Bidders • The Permissible Contacts for this solicitation are Stacey Relation and Alysan Bowers, as noted in Section 1.8 of the Request for Proposals (“RFP”). • Bidders are responsible for checking the New York State Gaming Commission’s (“Commission”) website for updated information relative to the procurement process and the RFP. The Commission will not be responsible for a Bidder’s failure to obtain updated information. • By submission of a Proposal in response to this RFP, the Bidder agrees to the terms of the resulting Agreement in the form incorporated into the RFP as Appendix B, or as revised through the RFP process. The Commission does not intend to negotiate terms of the Agreement after receipt of Proposals or following award (Section 2.2). • By submission of a Proposal in response to this solicitation, the Bidder agrees to comply with the insurance requirements defined in the RFP (Section 2.15). • The participation goals for Minority and Women-Owned Business Enterprises and Service-Disabled Veteran-Owned Businesses under this RFP are 30 percent and 6 percent, respectively. (Sections 2.18 and 2.19). • To assist Bidders in completion and submittal of the required documents, Attachment 3, Document Submittal Checklist, is incorporated into this RFP. • Do not include any pricing in the Technical Proposal. Technical Proposals that contain pricing will be deemed non-responsive and removed from consideration. • Bidders choosing not to submit a Proposal in response to this RFP are requested to submit the Non-Bid Response form, included in this RFP as Attachment 4, as the information is useful to the Commission in the planning and development of future RFPs and Bidders’ lists.
    [Show full text]
  • Ticket Seller
    TICKET SELLER ® The Official Magazine for Ohio Lottery Retailers Vol. 2 No. 87 | January 2018 NEW from the Ohio Lottery! Play The Lucky One every 4 minutes between KENO drawings. PlayChoose The any combination Lucky of 3 bet types One for each everydrawing. 4 minutesPick a Number between 1-36 | Odd or Even | Keno Low (1-18) or Highdrawings. (19-36) Sales beginSales begin JanuaryJanuary 21. 21. Cashless payments accepted at all vending machines. Daily limits apply. Lottery players are subject to Ohio laws and Commission regulations. Please play responsibly. Total Copies Printed: 00,000 / Unit Cost: $0.000 / Publication Date: 0/00 TICKET SELLER January 2018 Contents ® 3! The Lucky One is coming. Get ready for the Ohio Lottery’s new monitor game. The easy play-and-win A message style of The Lucky One is sure to be an exciting addition for fans of Keno. from the Director 4! Spotlight: Extreme Millions. Happy New Year! On behalf of everyone here at The Ohio Lottery’s newest $30 instant the Ohio Lottery, we wish 2018 to be a good game is scheduled to reach retailers Jan. year for you, your employees and families. We 10. Check out some of the game’s fun hope you enjoyed the holidays and included features. a few days to relax, allowing you to begin the year energized and refreshed. 6,7! Fiscal Year 2017 in Review. Get the fiscal year highlights, Now is the perfect time to focus on our shared goals and determine including Lottery game performance and what we can do to make your business a great destination for plans for the remainder of Fiscal Year customers.
    [Show full text]
  • Executive As Passed by the House Main Operating Appropriations Bill
    Ohio Lottery Commission Main Operating Appropriations Bill H. B. 1 Executive As Passed by the House As Passed by the Senate As Enacted 1 LOT - 5 Authority of the State Lottery Commission to Conduct Video Lottery Terminal Games R.C. 3770.03, 3770.21, Section 735.10, Section 737.10 No provision. No provision. No provision. Specifically authorizes the State Lottery Commission to operate video lottery terminal games and to adopt rules the Commission determines necessary for the operation of these games, including the establishment of any fees, fines, or payment schedules, and the level of minimum investments that must be made in the buildings and grounds in which video lottery terminals will be located. Specifies also that Chapter 2915 of the Revised Code (generally gambling laws) does not apply to, affect, or prohibit the operation of video lottery terminals by the State Lottery Commission. No provision. No provision. No provision. Prohibits any license or excise tax or fee from being assessed upon or collected from a video lottery terminal licensee by any political subdivision that has authority to assess or collect a tax or fee, by reason of video lottery related conduct, except for municipal income taxes and horse racing taxes. No provision. No provision. No provision. Grants the Ohio Supreme Court exclusive original jurisdiction over any claim that the bill's provisions dealing with video lottery terminal games, or rules adopted under those provisions, are unconstitutional. Ohio Lottery Commission 1 Prepared by the Legislative Service Commission 8/14/2009 Ohio Lottery Commission Main Operating Appropriations Bill H. B.
    [Show full text]