Commission Meeting for 6/28/2013
 


Time, Date, and Place:

The 179th Idaho Lottery Commission meeting teleconference was held on Friday June 28, 2013, at 10:00 a.m. at the Idaho Lottery Commission, Boise, Idaho, 83702.

Attendance:

Commissioners Present:

Chairman, Roger Jones

Commissioners Present via Teleconference:

Commissioner, Mel Fisher

Commissioner, David Keyes

Commissioner, Jim Rehder

Commissioner, Craig Corbett

Lottery Staff Present:

Director, Jeffrey Anderson

Chief Operating Officer, Becky Schroeder

Deputy Director of Marketing, Sherie MoodySt. Clair

Management Assistant, Jennifer QuinnoMiller

Chief Financial Officer, Jay Prickett

Deputy Director of Sales, Shannon Newhouse

Public Information Specialist, David Workman

1. MEETING CALLED TO ORDER:

Meeting called to order by Chairman Jones at 10:00 a.m.

2. SETTING OF THE DIVIDEND:

Chief Financial Officer Jay Prickett presented the Income and Expense Projection to the Commission pointing out that for this fiscal year the Idaho Lottery projected sales of $182 million and that our actual sales were over $198 million. Jay also recommended that the dividend be set at $48.2 million.

Director Anderson explained that there was a 12.6% increase in top line sales and a 16% increase in the presented dividend over last year. He explained that we strive for a larger growth in distribution vs. sales by continuing to rigorously managing costs.

He also informed the Commission that this is the first time since the distribution formula was modified 5 years ago that we will be able to distribute more to Public Schools and the Permanent Building fund over the 2008 distributed amounts. Also, we have now eclipsed the $600,000,000 mark for money distributed to our beneficiaries since inception.

Commissioner Fisher makes a motion to declare the dividend be set at $48.2 million for FY13. Commissioner Keyes seconds the motion. The vote was unanimous for approval and the dividend was set at $48.2 million.

Director Anderson reminds the Commission that the next Commission meeting is set for July 16 in Boise to be followed by the dividend check presentation to the Governor in his office after the meeting.

3. ADJOURNMENT:

There being no other business to discuss, Commissioner Fisher moved to adjourn the meeting. Seconded by Commissioner Rehder and the vote being unanimous, the meeting was adjourned.

CERTIFICATION:

I hereby certify that the foregoing minutes are a true and correct record of the actions and decisions made by the Lottery Commission on June 28, 2013.

Jeffrey R. Anderson