Minnesota State Lottery Annual Comprehensive Financial Report - Fiscal Years Ended June 30, 2025 and 2024

Oct 12, 2026

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Minnesota State Lottery Annual Comprehensive Financial Report presents audited enterprise-fund financial information for the fiscal years ended June 30, 2025 and 2024. The report covers the introductory section with the letter of transmittal, organizational context, and achievement certification, followed by the independent auditor’s report, management discussion and analysis, and core financial statements. It includes statements of net position, revenues and expenses with changes in net position, cash flows, and detailed notes, plus pension and OPEB related schedules and supporting statistical exhibits.

LanguageEnglish

CategoryGeneral

FormatPDF

Pages68

Reading Time24 min

AccessFree to download

INTRODUCTORY SECTION

LETTER OF TRANSMITTAL

ORGANIZATIONAL CHART

CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT

MANAGEMENT DISCUSSION AND ANALYSIS

FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

SCHEDULES AND STATISTICAL EXHIBITS

MINNESOTA STATE LOTTERY Annual Comprehensive Financial Report An Enterprise Fund of the State of Minnesota For the Fiscal Years Ended June 30, 2025 and 2024 Prepared by Arthur Alexander III Chief Financial Officer Finance Department PAGE § INTRODUCTORY SECTION § LETTER OF TRANSMITTAL 4 § ORGANIZATIONAL CHART 14 § CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE 15 IN FINANCIAL REPORTING § FINANCIAL SECTION § INDEPENDENT AUDITOR’S REPORT 17 § MANAGEMENT DISCUSSION AND ANALYSIS 20 § FINANCIAL STATEMENTS o STATEMENT OF NET POSITION 25 o STATEMENT OF REVENUES, EXPENSES, AND CHANGE IN 26 NET POSITION o STATEMENT OF CASH FLOWS 27 o NOTES TOTHE FINANCIAL STATEMENTS 28 § SCHEDULE OF THE MINNESOTA STATE LOTTERY’S SHARE OF NET PENSION LIABILITY-STATE 52 AND LOTTERY CONTRIBUTIONS § 2024 CHANGES IN ACTUARIAL ASSUMPTIONS–GENERAL EMPLOYEES FUND 53 § SCHEDULE OF CHANGES IN THE LOTTERY’S TOTAL OPEB LIABILITY AND RELATED RATIOS 54 § INTRODUCTION 56 § SCHEDULE OF NET POSITION AND CHANGES IN NET POSITION– FISCAL YEARS 57 2016 THROUGH 2025 § REVENUE DISTRIBUTION– FISCAL YEARS 1990 THROUGH 2025 59 § SALES BY GAME– FISCAL YEARS 1990 THROUGH 2025 60 § EXPENSES AND PAYMENTS DISTRIBUTION– FISCAL YEARS 1990 THROUGH 2025 61 § FULL TIME EMPLOYEES– FISCAL YEARS 1990 THROUGH 2025 63 § CAPITAL ASSETS– FISCAL YEARS 1990 THROUGH 2025 64 § TOTAL OUTSTANDING DEBT 65 § PLAYER DEMOGRAPHICS–GENDER, AGE, EDUCATION, AND INCOME 66 § MINNESOTA TOP EMPLOYERS 67 § NATIONAL STATISTICS: o FISCAL 2024 CONSOLIDATED US LOTTERY REVENUE, PRIZES & GOVERNMENT TRANSFERS BY GDP 68 December 9, 2025 Mr. Adam Prock, MN Lottery Executive Director Citizens of the State of Minnesota INTRODUCTION I am pleased to transmit the Annual Comprehensive Financial Report of the Minnesota State Lottery for the fiscal year ending June 30, 2025. The Finance Division of the Lottery prepared this report, which provides information about the Minnesota State Lottery, an agency of the State of Minnesota. The Minnesota State Lottery was created in July 1989 pursuant to authority granted by the Minnesota Legislature. The Lottery is operated as a business enterprise within the framework of State laws and regulations. The Lottery's mission is to “offer fun, innovative and secure games that provide responsible and ethical entertainment.” This mission is performed with the utmost integrity to ensure public confidence in the Lottery. The Lottery is an enterprise fund of the State of Minnesota and is included in the State's Annual Comprehensive Financial Report. Lottery activity is reported using the enterprise fund type. The fund includes all activity for which the Minnesota State Lottery is financially accountable. No data related to any other State agency or fund is included. The accuracy of the financial data and the completeness of the presentation, including all disclosures, is the responsibility of the Minnesota State Lottery. Additional summarized financial information can also be found in the Management Discussion and Analysis beginning on page 20. To the best of my knowledge and belief, the data is accurate and is reported in a manner designed to fairly present the financial position, results of operations and cash flows of the Minnesota State Lottery. Included are all disclosures necessary to gain an understanding of the Lottery's financial activities. LOTTERY INDUSTRY In 1964, New Hampshire established the first state-run lottery to raise money for education. New York followed in 1967. Since then, there have been significant advancements in lottery gaming. In 1971, Automated Wagering implemented the world's first lotto gaming system in New Jersey and Scientific Games developed the first secure scratch ticket in 1973. In 1988, the New York Lottery introduced Keno; then, South Dakota became the first state in the United States to license and regulate video lottery games in 1989. The Minnesota Lottery awarded the fi

FAQs

What fiscal periods does the Minnesota State Lottery Annual Comprehensive Financial Report cover?

It covers the fiscal years ended June 30, 2025 and 2024.

Which main financial statements are included in the report?

It includes the statement of net position, the statement of revenues, expenses, and change in net position, and the statement of cash flows.

Does the report contain additional disclosure and actuarial-related schedules?

Yes. It includes notes to the financial statements and schedules related to net pension liability and OPEB, along with other supporting schedules and statistics.

Oct 12, 2026

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