Montana Lottery Annual Report 1993

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Joint Venture /Multi-State Lottery Association - In November 1 989, the Montana State Lottery joined the Multi- State Lottery Association (MUSL} MUSL was created in September 1987 to operate a multi-state lottery game for the benefit of party lotteries Each lottery participating in MUSL is represented on the Board of Directors The Board's responsibilities are to initiate, promulgate, and administer a multi-state lottery game for the mutual benefit of the member lotteries As of June 30, 1993, MU
...SL's unaudited financial information is as follows: Total Assets $ 494,301,889 Total Liabilities $ 494,110,111 Fund Balance $ 191,778 Total Liabilities and Fund Balance $ 494.301.889 Total Revenue $ 1 ,625,280 Total Expenses $ 1,710.891 Excess (Deficit) of Revenue Over Expenses $ (85,61 1 ) Intangible Assets - Intangible assets represent the per ticket cost paid to Automated Wagering Inc. for advance on-line ticket sales. These ticket sales, also referred to as Deferred Revenue, represent tickets sold prior to June 30, 1 993, for drawings held after June 30, 1993.

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