A History Of Inaccurate Lottery Projections

The Oklahoma Lottery's failure to meet revenue expectations (see story earlier today) follows a history of estimates that have been inflated. Here's the history of what we've been told by Governor Brad Henry and State Treasurer (former state finance director) Scott Meacham.

ON THE CAMPAIGN TRAIL
2002 – Then-candidate Brad Henry’s original projection of lottery funds for education: $500,000,000 per year

IN THE LEGISLATURE
2003 – Projection of lottery funds for education by Governor Brad Henry and then-State Finance Director Scott Meacham at the beginning of legislative session: $300 million per year[1]

LOTTERY’S FIRST YEAR
FY 2006 actual education funds from lottery (partial year): $68,948,959[2]

LOTTERY’S SECOND YEAR
FY 2007 projection of education funds from lottery: $123,930,000[3]
FY 2007 actual education funds from lottery: $69,378,465[4]

LOTTERY’S THIRD YEAR
FY 2008 original projection of education funds from lottery: $86,226,862[5]
FY 2008 revised projection of education funds from lottery (09/18/2007): $71,608,829[6]

[1] Gov. Brad Henry’s State of the State address
[2] Oklahoma Lottery Commission’s “Issues Facing The Oklahoma Lottery” Appendix A
[3] Schedule 5, State Board of Equalization Packet, 17-Feb-06
[4] Oklahoma Lottery Commission’s “Issues Facing The Oklahoma Lottery” Appendix A
[5] Schedule 2, State Board of Equalization Packet, 27-Jun-07
[6] Oklahoma Lottery Commission’s “Issues Facing The Oklahoma Lottery” FY 2008-2010 Budget Projections

Share |