On April 7, the WyoLotto made their fifth transfer of funds to the state in the form of $1 million.
The money will be divided up between different cities, towns and counties in Wyoming.
According to WyoLotto, this Transaction happens every quarter, were the lottery transfers money to the Wyoming Treasurer’s Office. The $1 million payout this quarter makes the total around $4.4 million since April of last year.
“We believe in being a part of the Wyoming community, especially through becoming an additional funding stream for the Cowboy State,” WyoLotto CEO Jon Clontz. “This is a top priority according to the statute, and we take it very seriously.”
The revenue transfers are completed by the Treasurer’s Office and the funds are distributed at discretion to the cities, towns and counties. The cities, towns and counties can then use those funds for various local improvements.
According to state Treasurer documents, Albany County received a total of $5,935 while the city of Laramie received a total of $34,908.
“Wyoming is benefiting from these funds and the additional money is staying here because players now stay in Wyoming to spend money they were previously spending across state lines,” Clontz said.
Laramie was the sixth highest paid city, behind Jackson ($46,455), Rock Springs ($56,130), Casper ($85,691), Gillette ($93,007) and Cheyenne ($98,336).
According to WyoLotto, the formula for how the money is distributed between cities is based on each city and town’s sales tax.
However, on July 1 the formula will change so that the money is distributed based on WyoLotto ticket sales.
Recent legislation has a made it possible for WyoLotto to increases its profits in coming years without the risk of cities, towns and counties forfeiting their share.
According to WyoLotto, prior to this quarter, revenue transfers amounts exceeding $6 million in a fiscal year would be made to the Wyoming Permanent Land Fund’s Common School Account. Recent legislation has removed the $6 million measure, so now all funds will now be solely directed to Wyoming communities.
Clontz believes the WyoLotto will be able to help Wyoming cities in the future.
“We encourage our fellow Wyomingites to reach out to their local governments, get involved, and find ways to use these funds that create a lasting change,” Clontz said. “It warms my heart to see the benefits of this money come to fruition.”
