May 9, 2013 – State economic advisers say the South Carolina Education Lottery is bringing in more profits than expected, and that the state should see an extra $27 million from Lottery revenues this year.
For the next fiscal year, which starts July 1, advisers have adjusted their projections to show the extra $7 million they expect to see in profits.
South Carolina law restricts the state government from using lottery profits on anything other than education spending, mostly on college scholarships, public libraries, and K-12 programs.
Some of the extra money can be used to purchase new school buses, something State Superintendent Mick Zais has been pushing legislators to prioritize in their new budget.
Last year, after the state spent $28 million on 342 school buses, Zais said “It’s an unfortunate but true fact that…South Carolina has the oldest school bus fleet in the nation.”
He added that, despite the purchase of new buses, many students would still be riding the same buses their parents rode to school. The 342 buses purchased last year only replaced a fraction of nearly 5,000 in the state.
Legislators will debate South Carolina’s budget plan for the 2013-2014 fiscal year next week.