1996-1997 Lottery Budget
Development of the 1996/97 Lottery Revenue Budget began in January 1996 with a projection of lottery revenue. The revenue projections for 1996/97 are based on a conservative estimate of potential revenue. This approach is based largely on the past four years of lottery revenue received by the CSU. Based on this information, the projection reflects a modest increase in lottery receipts. The revenue projection for 1996/97 anticipates receipts of $26 million. The 1996/97 budget projects a 1995/96 ending balance of $9.3 million. Additionally, the proposed budget projects system interest earnings of $1.2 million. Together these figures form the base 1996/97 Lottery Revenue Budget of $36.5 million, of which $7.4 million will be budgeted as the Systemwide Reserve. The Systemwide Reserve will provide for economic uncertainties, cash flow variations and fluctuations in lottery receipts, and to provide funds for projects to be determined by the chancellor. These figures are illustrated below:
|1996/97 Projected Lottery Revenue|
|System Interest Earnings||1,200,000|
|Less Systemwide Reserve||-7,400,000|
|Total Available for Allocation||$29,100,000|
From the anticipated revenue listed above, the following budget has been approved for fiscal year 1996/97. The amounts listed below maintain the budget increases received by lottery programs in 1995/96 less the $7.8 million prior year's unallocated revenue.
|1996/97 Lottery Program Budget|
|Program||Fiscal Year 1996/97|
|Access & Academic Development||$4,604,000|
|CSU Scholarship Program for Future Scholars||440,000|
|Forgivable Loan/Doctoral Incentive Program||3,525,000|
|California Pre-Doctoral Program||573,000|
|CSU Summer Arts Program||1,100,000|
Budget Approval Process
The proposed revenue budget was reviewed by the System Budget Advisory Committee in May, 1996 and by the Executive Council at its June, 1996 meeting. This budget was scheduled to go before the Board of Trustees at its July, 1996 meeting as an informational item and as an action item in September, 1996. The 1996/97 budget maintains the budget increases received by lottery programs in 1995/96 and reflects certain program name changes. This budget proposes to allocate $29.1 million to the campuses and system offices.