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RALEIGH, N.C. -- The North Carolina Education Lottery will make its first transfer of funds to the Education Lottery Fund effective on Wednesday. Officials said the first transfer amount will be $50 million.
"This is an historical event for education in North Carolina," said Tom Shaheen, NCEL executive director. "It is likely we may have additional funds to transfer, but until we have closed our books for this year, we are unable to determine exactly how much to transfer beyond the $50 million."
The NCEL expects to make the next transfer of funds after the first quarter of fiscal year 2006-07 in October.
As of Monday, the NCEL achieved more than $216 million in sales. The NCEL has paid out nearly $110 million in prizes. |
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