Common use of Lottery Revenue Clause in Contracts

Lottery Revenue. The initial base amount for Lottery revenue is established at $3.3M. Effective July 1, 2000, fifty percent (50%) of Lottery revenues above 1997-98 revenues are restricted per the conditions set forth in Proposition 20. Such restricted amounts may not be used for salaries and benefits and, therefore, are excluded from the provisions of this section. In 2014-15 the base amount for unrestricted Lottery revenue was increased by $2.6M to a new established base of $5.9M. Eighty percent (80%) which is $2.08M of the increase was considered a continuing resource and the proportionate amount of such funds was provided to LRSA through the proportionate share calculation as a continuing resource. Lottery revenues below the base amount of $5.9M shall reduce available continuing funds. Any revenue received above the established base of $5.9M is considered one- time-only revenue and the proportionate amount of eighty percent (80%) of such funds provided to the LRSA unit as a non-continuing resource.

Lottery Revenue. The initial base amount for Lottery revenue is established at $3.3M. Effective July 1, 2000, fifty percent (50%) of Lottery revenues above 1997-98 revenues are restricted per the conditions set forth in Proposition 20. Such restricted amounts may not be used for salaries and benefits and, therefore, are excluded from the provisions of this section. In Beginning in 2014-15 the base amount for unrestricted Lottery revenue was will be increased by $2.6M to a new established base of $5.9M. Eighty percent (80%) which is $2.08M of the increase was will be considered a continuing resource and the proportionate amount of such funds was provided to LRSA through the proportionate share calculation as a continuing resource. Lottery revenues below the base amount of $5.9M shall reduce available continuing continuous funds. Any revenue received above the new established base of $5.9M is considered one- timeone-time- only revenue and the proportionate amount of eighty percent (80%) of such funds provided to the LRSA unit as a non-continuing resource.

Lottery Revenue. The initial base amount for Lottery revenue is iswas established at $3.3M. Effective July 1, 2000, fifty percent (50%) of Lottery revenues above 1997-1997- 98 revenues are restricted per the conditions set forth in Proposition 20. Such restricted amounts may not be used for salaries and benefits and, therefore, are excluded from the provisions of this sectionarticle. In Beginning iIn 2014-15 15, the base amount for unrestricted Lottery revenue was will bewas increased by $2.6M to a new established base of $5.9M. Eighty percent (80%) ), which is $2.08M M, of the increase was will bewas considered a continuing resource and the proportionate amount of such funds was provided to LRSA LRCFT through the proportionate share calculation as a continuing resource. Lottery revenues below the base amount of $5.9M shall reduce available continuing continuingous funds. Any revenue received above the new established base of $5.9M is considered one- one-time-only revenue and the proportionate amount of eighty percent (80%) of such funds provided to the LRSA unit LRCFT as a non-continuing resource.