UPDATE: Lottery projects $500K less in scholarships
LITTLE ROCK (AP) - The Arkansas lottery is projecting that it will bring in less money for scholarships in the coming fiscal year.
Lottery director Bishop Woosley said before a Wednesday legislative hearing that officials are projecting $89.5 million for scholarships for fiscal year 2014. That's about $500,000 less than the budget for this fiscal year.
Woosley says he made a conservative estimate based on sales drops last summer that hurt 2013 revenues.
Woosley says last summer's drought and long streak of hot weather drove down ticket sales.
Woosley says the low estimate will help higher education officials plan the college scholarship budget for the 2014-2015 school year.
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