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Delaware State Lottery Annual Comprehensive Financial Report for the Years Ended June 30 , 2020 and 2021

Report Details

Report Description: 
What Was Performed? A financial statement audit ofthe Delaware State Lottery’s Annual Comprehensive Financial Report for Fiscal Years 2020 and 2021. Why This Engagement? This engagement was performed in accordance with 29 Del. C. § 4816 and 29 Del. C. § 2906. On Dec. 9, 2021, 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 over 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, neighborhood protection from crime and pollution, parks and beaches maintenance, 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 contributed over $175 million to the state’s General Fund in Fiscal Year 2020 and $216 million to the state’s General Fund in Fiscal Year 2021. The Delaware Lottery requested a comparative report reflecting the past two fiscal years. 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.
Date Issued: 
Monday, January 3, 2022
Agency Reviewed / Investigated: 
Dover, DE
United States
Type of Report: 
Professional Standard: 
GAO's Yellow Book, Generally Accepted Government Auditing Standards (GAGAS)

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