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Financial Reports
ANNUAL REPORT
Click here to download the 2013 Year-End Review.
Check back soon for the New York Lottery Financial Summary (FY 2012-13)
NEW YORK LOTTERY FINANCIAL SUMMARY (FY 2011-12)
Statements of Revenue, Expenses, and Changes in Net Assets Years ended March 31, 2012 and 2011(In thousands)
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2012 |
2011 |
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Operating revenue: |
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Lottery revenue, net |
$8,439,473 |
$7,868,211 |
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Operating expenses: |
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Prize expense |
(4,130,406) |
(3,967,672) |
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Retailer commissions |
(1,036,958) |
(881,923) |
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Gaming contractor fees |
(173,704) |
(143,254) |
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Instant ticket direct expenses |
(25,194) |
(26,145) |
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Telecommunications |
(20,330) |
(19,206) |
| Total direct expenses |
(5,386,592) |
(5,038,200) |
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| Online games/jackpot marketing |
(47,923) |
(44,406) |
| Personal service and fringe benefits |
(31,020) |
(31,324) |
| Instant games marketing |
(29,217) |
(36,414) |
| All games marketing |
(8,865) |
(11,321) |
| Other administrative costs |
(9,620) |
(11,049) |
| State agency charges |
(1,618) |
(1,739) |
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Depreciation Total indirect expenses |
(1,677)
(129,760) |
(2,247)
(138,500) |
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| Total operating expenses |
(5,516,352) |
(5,176,700) |
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| Operating income |
2,923,121 |
2,691,511 |
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Nonoperating revenue (expenses): |
| Investment income |
196,965 |
90,928 |
| Other revenue (expense), net |
(230) |
381,995 |
| Investment expense, net |
(73,537) |
(74,205) |
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| Total nonoperating revenue (expense) |
125,575 |
399,386 |
| Income before required allocation |
3,048,696 |
3,090,897 |
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| Required allocation for aid to education |
(2,887,988) |
(3,049,154) |
| Change in net assets |
160,708 |
41,743 |
| Net assets beginning of year |
210,590 |
168,847 |
| Net assets end of year |
$371,298 |
210,590 |
Statements of Net Assets
March 31, 2012 and 2011 (In thousands)
| Assets |
2012 |
2011 |
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Current assets: |
| Cash and cash equivalents |
$386,230 |
230,468 |
| Accounts receivable |
469,732 |
598,435 |
| Instant ticket inventory |
7,991 |
10,842 |
| Investments |
138,133 |
148,692 |
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| Total current assets |
1,002,086 |
988,437 |
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Noncurrent assets:
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Long-term investments, net |
1,329,903 |
1,446,593 |
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Capital assets |
43 |
1,720 |
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Total noncurrent assets
Total assets |
1,446,636
2,448,722 |
1,331,623
2,320,060 |
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Liabilities |
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Current liabilities: |
| Prizes payable |
171.051 |
172,132 |
| Unclaimed prizes |
335,110 |
325,013 |
| Due to Education |
227,586 |
168,697 |
| Accounts payable and accrued liabilities |
25,150 |
169,903 |
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Capital lease obligations |
--- |
1,810 |
| Deferred ticket sales |
9,602 |
11,808 |
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Compensated absences |
1,765 |
1,471 |
| Total current liabilities |
770,264 |
850,834 |
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Noncurrent liabilities: |
| Compensated absences |
662 |
358 |
| Long-term prizes payable |
1,306,498 |
1,258,278 |
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Total noncurrent liabilities
Total liabilities |
1,307,160
2,077,424 |
1,258,636
2,109,470 |
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Net Assets |
| Restricted for future prizes |
140,965 |
104,894 |
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Invested in capital assets, net of related debt
Unrestricted |
43
230,290 |
(90)
105,786 |
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| Total net assets |
$371,298 |
210,590 |
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The New York Lottery's financial statements are audited by KPMG, LLP. These schedules do not represent complete financial statements of the New York Lottery. Complete financial statements include required statements and footnotes which are an integral part of the financial statements. A copy of the Lottery's audited financial statements for the years ended March 31, 2012 and 2011 can be downloaded here or requested by emailing us. (The audited Financial Summary ending March 31, 2013 will be available soon.)
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