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ANNUAL REPORT

Click here to download the 2013 Year-End Review.
 
Click here to download New York Lottery Financial Summary (FY 2012-13)

NEW YORK LOTTERY FINANCIAL SUMMARY (FY 2012-13)
Statements of Revenue, Expenses, and Changes in Net Position Years ended March 31, 2013 and 2012(In thousands)

 

2013

2012

Operating revenue:

Lottery revenue, net

$8,934,288

$8,439,473

Operating expenses:

Prize expense

(4,218,988)

(4,130,406)

Retailer commissions

(1,236,613)

(1,036,958)

Gaming contractor fees

(209,321)

(173,704)

Instant ticket direct expenses

(21,771)

(25,194)

Telecommunications

(20,954)

(20,330)

Total direct expenses

(5,707,647)

(5,386,592)

Marketing and advertising expense

(89,995)

(85,825)

Personal service and fringe benefits

(30,244)

(31,020)

Other administrative costs

(16,295) 

(9,620)

State agency charges

(1,458)

(1,618)

Depreciation

(38)

(1,677)

Total indirect expenses

(138,030)

(129,760)

Total operating expenses

(5,845,677)

(5,516,352)

Operating income

3,088,611

2,923,121

Nonoperating revenue (expenses):

Investment income

107,719

196,965

Other revenue (expense), net

(279)

(230)

Investment expense, net

(68,827)

(71,160)

Total nonoperating revenue (expense)

38,613

125,575

Income before required allocation

3,127,224

3,048,696

Required allocation for aid to education

(3,045,774)

(2,887,988)

Change in net position

81,450

160,708

Net position beginning of year

371,298

210,590

Net position end of year

$452,748

371,298


Statements of Net Position
March 31, 2013 and 2012 (In thousands)

Assets 

2013

2012

Current assets:

Cash and cash equivalents

$444,837

386,230

Accounts receivable

441,486

469,732

Instant ticket inventory

8,378

7,991

Investments

135,542

138,133

Total current assets

1,030,243

1,002,086


Noncurrent assets:

Long-term investments, net

1,558,642

1,446,593

Capital assets

5

43

Total noncurrent assets

1,558,647

1,446,636

Total assets

2,588,890

2,448,722

Liabilities

Current liabilities:

Prizes payable

169,841

171,051

Unclaimed prizes

345,115

335,110

Due to Education

260,381

227,586

Accounts payable and accrued liabilities

25,844

25,150

Deferred ticket sales

8,352

9,602

Compensated absences

1,554

1,765

Total current liabilities

811,087

770,264

Noncurrent liabilities:

Compensated absences

341

662

Long-term prizes payable

1,324,714

1,306,498

Total noncurrent liabilities

1,325,055

2,136,142

Total liabilities

1,307,160

2,077,424

Restricted for future prizes

184,824

140,965

Investment in capital assets

5

43

Unrestricted

267,919

230,290

Total net position

$452,748

371,298


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, 2013 and 2012 can be downloaded here or requested by emailing us.