Half of $1 Billion Raised by the N.C. Education Lottery Goes to Help Build and Repair Public Schools

RALEIGH, NC (August 15, 2024) – For the second year in a row, the N.C. Education Lottery raised more than $1 billion in a single year with more than half going to help counties build and repair public schools.

The financial help to North Carolina counties results from record earnings for education from lottery ticket sales in fiscal year 2024.  At the end of the fiscal year, based on final but unaudited results, the lottery set new records for both sales and the amount of money raised for education, including:

• Record sales of $5.4 billion.
• Record amount of $1.09 billion raised for education.

Mark Michalko, executive director of the N.C. Education Lottery, said the investment of lottery funds to build new schools represents the most visible sign of how the lottery benefits communities all across the state.

“New schools help to move North Carolina students forward,” said Michalko. “All across our state, parents and educators are sharing stories with us about the impact of the new schools. They say the new schools and classrooms create spaces where students are excited to come to school every day.”

In fiscal year 2024, the lottery not only met but exceeded the $931 million goal set by the state by $161 million. In all, more than half of the $1 billion raised last fiscal year goes to counties to build new schools and repair older ones. As determined by the N.C. General Assembly in the state budget:

• $254 million went to a state fund to provide grants to counties to build new schools. This fund will also get most of the extra $161 million raised by the lottery.
• $100 million was shared by all 100 counties, with each getting an allocation based on size. For example, Wake County, which has the largest school system, received more than $11 million for school construction.
• $50 million went to a state repair and renovation fund with each county getting an additional $500,000.

Besides helping to build and repair schools, the money raised by the lottery last year:

• Helped make college more affordable through scholarships and grants based on financial need. The new Next NC Scholarship provides recipients attending a community college at least $3,000 and those attending a state university at least $5,000 for help with tuition and fees.
• Supported each school system with the costs of school support staff and transportation.
• Provided a free, academic preschool to at-risk four-year-olds in the NC Pre-K program.

the new state-of-the-art Tar Heel School in Bladen County that opened in January, replacing a school built in 1925. Money raised by the lottery provided a $40 million state grant to cover most of the costs of the $47 million school.

Several North Carolina counties have shared stories of the impact the new schools are having on their communities. They include the new Granite Falls Middle School in Caldwell County, the new Hayesville Elementary School in Clay County, the new Tar Heel School in Bladen County, the new Northwest Harnett Elementary School in Harnett County, the new Cherokee Schools of Innovation in Cherokee County, and the new Wilson Academy of Applied Technology in Wilson County. Click on the links to see and hear the impact these new schools are having on education.

At the end of the year, the lottery crossed the milestone of raising more than $11 billion since it started in 2006.

SOURCE: N.C. Education Lottery.