Montana Lottery Financial Statements (Unaudited) March 31, 2005
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These inventories are also recorded at cost using the specific identification method. Other Current Assets. Other current assets consist of the following: Mc arch 31, 2005 9,235 1,850 2004 7,889 4.800 Prepaid Expenses Employee Advances TOTALS $11,085 $12,689 Transfer Obligations. The account "Transfer Obligations" is $1 ,439,248 payable to the General Fund at March 31, 2005. Compensated Absences . State employees earn vacation leave ranging from 1 5 to 24 days per year depending on the individu...al's years of service. Vacation leave may be accumulated not to exceed two times the maximum number of days earned annually. With no limit on accumulation, sick leave is earned at 1 2 days per year. Upon retirement or termination, an employee is paid 1 00% for unused vacation and 25% for unused sick leave. The Lottery's liability for compensated absences is detailed below. Balance Net Leave Balance June 30. 2004 Earned/(Used) March 31, 2005 $190,739 ($32,959) $157,780 Commissions. Section 23-7-301(10), MCA, provides retailers a commission on scratch, Qwik Tix and lotto tickets or chances sold.
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