Shortfall In Lottery Projections Could Impact Schools
Friday, December 28th 2007, 6:12 am
By: News On 6
OKLAHOMA CITY (AP) -- State Superintendent Sandy Garrett says she plans to seek supplemental funding from lawmakers next month because of a shortfall in projected lottery revenue. Garrett says six months into the current fiscal year that ends June 30th, revenues from the lottery are about $4.6 million below projections.
Schools absorbed a shortfall in lottery projections last year after lawmakers earmarked lottery funding for the $3,000 pay raise for public school teachers.
Garrett says high energy prices and costs related to the recent ice storms have strained budgets.
She says education officials are grateful that the Oklahoma Lottery created an additional revenue stream for schools, but she said such funding is unstable.
Garrett supports allocating lottery funding to schools outside of their operational budget and allowing local school boards to determine how to spend the revenue based on their needs.