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NEWS
WV Lottery’s finances recognized for 11th year
CHARLESTON, W.Va. (AP) — For the 11th straight year, West Virginia’s Lottery has received national recognition for its financial records.
The Government Finance Officers Association of the United States and Canada’s award covers lottery operations for the fiscal year that ended June 30, 2007.
Lottery Director John Musgrave said Thursday that for the past 11 years, the Lottery has managed about $9 billion in revenues. For the fiscal year in question, the Lottery transferred $639 million in profits to the state for government operations.
Musgrave says winning an award for 11 years running isn’t to be taken lightly. Such awards are noticed by bond underwriters and others who observe and gauge government fiscal operations.
