Poverty Illinois

Mook

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Feeling like you've hit the jackpot through the Illinois Lottery? Well, think again.

State officials announced Wednesday that winners who are due to receive more than $600 won't get their money until the state's ongoing budget impasse is resolved. Players who win up to $600 can still collect their winnings at local retailers.

In a statement, the Illinois Lottery said that its account for writing out checks to winners would be exhausted as of Thursday, and the agency does not have the legal authority to replenish its own funds. According to the Chicago Tribune, officials say the legislature must authorize the state comptroller to release the funds.

Despite the payment delay, lottery officials have continued selling tickets.

Last month, the Illinois comptroller's office announced that without a budget for the July 1 fiscal year, the agency didn't have the authority to write checks of more than $25,000 and payments would be delayed.

"Once a budget is passed in Springfield, all outstanding claims will be paid," according to the statement.

Two lottery winners have filed a federal lawsuit against the Illinois Lottery for stopping payouts of prizes above $25,000 because of the budget impasse. The lawsuit seeks to force the lottery to pay winners of more than $25,000 with 5 percent interest and asks that the lottery be barred from paying its administrative or operational costs until the winners receive their prizes. The lawsuit alleges dozens await more than $288 million in prizes.


"If I was the one selling raffle tickets and I didn't pay, I would be sued or in jail or both," Rhonda Rasche, one of the winners who filed the suit, told the Tribune in a recent interview.

Tuesday's announcement came the same day state Comptroller Leslie Munger said the budget impasse means next month's $560 million payment to Illinois' pension system will be delayed. She said retirees will still receive benefit checks as scheduled. But the impasse has led to an immediate cash shortage, altering the way her office will dole out payments to the system.

Despite the budget impasse, money is still being allocated through state laws and consent decrees at last year's rates while less revenue is coming in.

http://abc7chicago.com/news/illinois-lottery-says-it-cannot-pay-winnings-above-$600-due-to-budget-impasse/1033373/
 

BrianG

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Jesus, it got worse!! I heard about the $25,000+ winning issue, but didn't realize that it's as low as $600 now. I guess that it's not truly an issue of having the money or not, it's that the legal authority to cut the checks due to the budget impasse is the problem.
 

Lord Tin Foilhat

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Most of it – 59 cents of each $1 in revenue – goes for prizes. Another 12 cents is reserved for com-

missions, bonuses and operating expenses. That leaves 29 cents available for the Common School

Fund.

Here it is in simple arithmetic:


$1.00 lottery ticket

- .59 for prizes

- .12 for expenses and state capital projects

= .29 for schools


In FY 2013, the Illinois State Lottery sold $2.9 billion worth of tickets. From that total, $1.7 billion

went to prizes and $340 million covered commissions and expenses, and $135 million for a Capital

Projects Fund. That left $656 million for the Common School Fund.

If 59% goes to prizes....WHERED IT ALL GO???????????????

Money doesn't disappear or walk away by itself.
 

MikeyLikesIt

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Article said:
The worst-run states also tended to have weak fiscal management, reflected by low pension funding, sparsely padded coffers, and poor credit ratings from Moody’s Investors Service and Standard & Poor’s (S&P). Illinois, the worst-run state in America, received lower ratings than any other state from both agencies. By contrast, the majority of the 10 best-run states had perfect ratings from both agencies.

The Best and Worst Run States in America: A Survey of All 50 - 24/7 Wall St.
 
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