North Carolina Auditor Releases NC Education Lottery Audit
The North Carolina Office of the State Auditor has issued the annual financial statement audit of the North Carolina Education Lottery for fiscal years ending June 30, 2024, and 2025, revealing record revenues alongside a decline in net proceeds allocated to education. Conducted by independent firm Cherry Bekaert, the audit confirms the financial statements fairly present the lottery's position, with FY 2025 revenues reaching $6.6 billion—an increase from $5.4 billion the prior year. However, net revenues transferred to the Education Lottery Fund dropped to $1.05 billion from $1.07 billion, reflecting shifts in product mix and margin pressures that warrant scrutiny in a maturing market.
