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ANNUAL REPORT

Click here to download the FY 2013-14 Year-End Review.
 
Click here to download New York Lottery Financial Summary (FY 2013-14)

NEW YORK LOTTERY FINANCIAL SUMMARY FY 2013-14.
Statements of Revenue, Expenses, and Changes in Net Position Years ended March 31, 2014 and 2013(In thousands)

 

2014

2013

Operating revenue:

Lottery revenue, net

$9,226,490

$8,934,288

Operating expenses:

Prize expense

(4,407,924)

(4,218,988)

Retailer commissions

(1,290,202)

(1,236,613)

Gaming contractor fees

(219,745)

(209,321)

Instant ticket direct expenses

(18,871)

(21,771)

Telecommunications

(21,357)

(20,954)

Total direct expenses

(5,958,099)

(5,707,647)

Marketing and advertising expense

(89,779)

(89,995)

Personal service and fringe benefits

(32,343)

(30,244)

Other administrative costs

(8,465)

(16,295)

State agency charges

(2,784)

(1,458)

Depreciation

(5)

(38)

Total indirect expenses

(133,376)

(138,030)

Total operating expenses

(6,091,475)

(5,845,677)

Operating income

3,135,015

3,088,611

Nonoperating revenue (expenses):

Investment income

(35,364)

107,719

Other revenue (expense), net

1,340

(279)

Investment expense, net

(70,893)

(68,827)

Total nonoperating revenue (expense)

(104,917)

38,613

Income before required allocation

3,030,098

3,127,224

Required allocation for aid to education

(3,172,958)

(3,045,774)

Change in net position

(142,860)

81,450

Net position beginning of year

452,748

371,298

Net position end of year

$309,888

452,748


Statements of Net Position
March 31, 2014 and 2013 (In thousands)

Assets 

2014

2013

Current assets:

Cash and cash equivalents

$515,992

444,837

Accounts receivable

479,000

441,486

Instant ticket inventory

9,141

8,378

Investments

126,915

135,542

Total current assets

1,131,048

1,030,243


Noncurrent assets:

Long-term investments, net

1,412,495

1,558,642

Capital assets

--

5

Total noncurrent assets

1,412,495

1,558,647

Total assets

2,543,543

2,588,890

Liabilities

Current liabilities:

Prizes payable

159,746

169,841

Unclaimed prizes

471,181

345,115

Due to Education

251,558

260,381

Accounts payable and accrued liabilities

41,501

25,844

Deferred ticket sales

9,487

8,352

Compensated absences

1,487

1,554

Total current liabilities

934,960

811,087

Noncurrent liabilities:

Compensated absences

314

341

Long-term prizes payable

1,298,381

1,324,714

Total noncurrent liabilities

1,298,695

1,325,055

Total liabilities

2,233,655

2,136,142

Restricted for future prizes

150,194

184,824

Investment in capital assets

--

5

Unrestricted

159,694

267,919

Total net position

$309,888

452,748


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, 2014 and 2013 can be downloaded here or requested by emailing us.