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Delaware State Lottery’s Comprehensive Annual Financial Report (CAFR) for Fiscal Years 2019 and 2020

Report Details

Report Description: 
What Was Performed? A financial statement audit of the Delaware State Lottery’s Annual Comprehensive Financial Report for Fiscal Years 2019 and 2020. Why This Engagement? This engagement was performed in accordance with 29 Del. C. § 4816 and 29 Del. C. § 2906. On Nov. 30, 2020, an audit of the Delaware State Lottery’s Financial Statements was released. That audit presented only basic financial statements about the lottery. This engagement is for the Delaware State Lottery’s Annual Comprehensive Financial Report (ACFR). In contrast, the ACFR presents a wider variety of important information to help readers properly understand the basic statements. This allows the Delaware State Lottery to participate in the Government Financial Officers Association (GFOA) ACFR certification program, which it has participated in for 20 years. Unlike many other state lotteries, the Delaware Lottery’s revenue is not earmarked for any specific cause or group. Instead, the lottery generates income for the state's General Fund. The General Fund is a pool of money that finances a variety of state services, such as youth education, protecting neighborhoods from crime and pollution, maintaining parks and beaches, and healthcare for families and seniors. In this way, the Delaware Lottery helps pay for services that otherwise would require additional tax dollars. The Delaware Lottery has contributed $5.4 billion to the state's General Fund since 1975 and contributed $213.9 million in FY19 and $175.7 million in FY20. What Was Found? It’s my pleasure to report this audit contains an unmodified opinion.1 There were no findings required to be reported under Government Auditing Standards. The Delaware State Lottery’s Annual Comprehensive Financial Report for Fiscal Year 2019 and 2020 can be found on our website.
Date Issued: 
Wednesday, June 23, 2021
Agency Reviewed / Investigated: 
Location: 
DE
United States
Type of Report: 
Other
Professional Standard: 
GAO's Yellow Book, Generally Accepted Government Auditing Standards (GAGAS)

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