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ANNUAL REPORT
 
Click here to download the FY 2016-17 Year-End Review.

Click here for the New York Lottery Financial Summary

Click here for the New York Lottery Comprehensive Annual Financial Report

 
NEW YORK LOTTERY FINANCIAL SUMMARY FY 2016-17.
Statements of Revenue, Expenses, and Changes in Net Position Years ended March 31, 2017 and 2016 (In thousands)
 
 

2017

2016

Operating revenue:

Lottery revenue, net

$9,675,722

$9,690,511

Operating expenses:

Prize expense

(4,639,092)

(4,629,657)

Retailer commissions

(1,345,525)

(1,346,488)

Gaming contractor fees

(226,848)

(227,116)

Instant ticket direct expenses

(25,739)

(22,970)

Telecommunications

(18,588)

(18,492)

Total direct expenses

(6,255,792)

(6,244,723)

Marketing and advertising expense

(95,838)

(85,620)

Personal service and fringe benefits

(25,150)

(32,177)

Other administrative costs

(6,689)

(5,273)

State agency charges

(5,700)

(5,725)

Depreciation

==

==

Total indirect expenses

(133,377)

(128,795)

Total operating expenses

(6,389,169)

(6,373,518)

 
Operating income

3,316,993

3,316,993

Nonoperating revenue (expenses):

Investment income

(4,973)

49,542

Other revenue (expense), net

7,773

2,102

Investment expense, net

(56,613)

(58,332)

Total nonoperating revenue (expense)

(53,813)

(6,688)

Income before required allocation

3,232,740

3,310,305

Required allocation for aid to education

(3,267,883)

(3,301,780)

Change in net position

35,143

8,525

Net position beginning of year

401,508

392,983

Net position end of year

$366,365

$401,508

 
Statements of Net Position
March 31, 2017 and 2016 (In thousands)

 

 

Assets

2017

2016

Current assets:

Cash and cash equivalents

$643,606

$724,407

Accounts receivable

476,862

455,443

Instant ticket inventory

11,848

10,273

Investments

102,696

99,667

Total current assets

1,235,012

1,289,790


Noncurrent assets:

Long-term investments, net

1,336,488

1,421,189

Capital assets

==

==

Total noncurrent assets

1,336,488

1,421,189

Total assets

2,571,500

2,710,979

Liabilities

Current liabilities:

Prizes payable

130,808

130,207

Unclaimed prizes

550,596

582,709

Due to Education

292,970

346,081

Accounts payable and accrued liabilities

14,641

8,422

Deferred ticket sales

9,610

9,813

Compensated absences

1,119

1,157

Total current liabilities

999,744

1,078,389

Noncurrent liabilities:

Compensated absences

225

134

Long-term prizes payable

1,202,856

1,226,840

Total noncurrent liabilities

1,213,566

1,231,524

Total liabilities

2,213,310

2,309,913

 
Restricted for future prizes

184,078

156,955

Investment in capital assets

==

==

Unrestricted

182,287

244,553

Total net position

$366,365

$401,508

 

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, 2017 and 2016 can be downloaded here or requested by emailing us.