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South Carolina Education Lottery receives clean opinion from independent audit

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The South Carolina Education Lottery was issued a clean, unqualified opinion from the independent certified public accounting firm Elliot Davis LLP regarding its financial statement audit.

The audit disclosed no findings, which are required to be reported in accordance with government auditing standards. The accounting firm’s opinion was that the SCEL’s financial statements present fairly, in all material respects, the financial position of the SCEL as of June 30, 2008.

More than $226 million was transferred to the Education Lottery Account following the SCEL’s fiscal year 2007-2008. The revenue surpassed the goal set by the Board of Economic Advisors by more than $13 million. Since 2002, gross lottery sales have exceeded $6.1 billion, of which sixty percent has been paid to lottery winners in the form of prizes.

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