Montana Lottery Annual Report 1998

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The combined total of future prize payments owed is $75,997,000 and $8 1 ,205,000 at June 30, 1 998 and 1 997, respectively. Total annual payments due over each of the next five years is $5,208,000 annually and $49,957,000 thereafter The present value of future prize payments approximates the current market value of the bonds held in trust for the Montana State Lottery virinners.
Multi-State Lottery Association Financial Position Information related to the Multi-State Lottery Associations audit
...ed financial statements is as follows: June 30.
1998 1997 Total assets $1,655,688,518 $1,437,619,763 Total liabilities Total net assets Total liabilities and net assets, unrestricted Total revenues Total expenses Increase (decrease) in unrestricted net assets 1,655,424,985 1,437,328,433 263,533 291,330 $1,655,688,518 3,123,770 3,151,567 $1,437,619,763 3,175,623 3,100,012 (27,797) NOTE 5 — ESTIMATED PRIZE LIABILITY The estimated prize liability represents the Lottery's estimate of prizes payable related to games in process at year-end based on the predetermined prize structure of each outstanding game.


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