N.C. Education Lottery Receives Two National Finance Awards

RALEIGH, NC (November 14, 2023) – The N.C. Education Lottery has received recognition for producing and sharing comprehensive and easy to understand information on its finances.

The recognition comes from two awards from the Government Finance Officers Association of the United States and Canada for clearly communicating the lottery’s financial story. The lottery received:

• A Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report (ACFR) for fiscal year 2022. The 100-page report provides a detailed look at the revenues, assets and expenses of the lottery.
• An Award for Outstanding Achievement for its Popular Annual Financial Report for fiscal year 2022. The eight-page report provides an overview of the lottery’s financial condition and an analysis of how money is raised and how those dollars are spent.

“We’re thrilled to receive these two awards for the 15^th year in a row,” said Mark Michalko, executive director of the N.C. Education Lottery. “It’s important that North Carolinians can see easily for themselves how lottery money is raised and spent, beginning with every ticket that is sold. These two awards recognize the work we do to ensure transparency and accountability of lottery finances.”

The Certificate of Achievement, established in 1945, recognizes the “spirit of full disclosure” of the lottery’s report. It is the highest form of recognition in the area of governmental accounting and financial reporting. The Award for Outstanding Achievement in Popular Annual Financial Report goes to governmental agencies which meet the highest standards for preparation of state and local government reports, including creativity, presentation, understandability, and reader appeal.

The Chicago-based association presents the awards annually as part of its mission to advance excellence in government finance. It serves approximately 21,000 government finance professionals.

For more information about the lottery’s finances, click on the “Corporate Social Responsibility” section of the lottery’s website. Both of the lottery’s award-winning financial reports can be obtained there.

SOURCE: N.C. Education Lottery.