Montana State Lottery Financial Statements, Years Ended June 30, 1994 And 1993 1994

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The annual minimum lease payments under noncancelable operating leases, as of June 30, 1994, are: Year ending June 30: 1995 $ 78,000 1996 78,000 1997 52,000 Rent expense under operating leases charged to operations was $78,000 for the years ended June 30, 1994 and 1993.
NOTE 10 - EMPLOYEE BENEFIT PLANS Pension Plan All eligible employees of the Lottery participate in the Montana Public Employees Retirement System (PERS), a defined benefit, cost-sharing, multiple-employer retirement plan. The Lo
...ttery is required to contribute for full-time employees at the rate of 6.55% of annual compensation under State statute.
Employees are required to contribute 6.55% of annual compensation. Part-time employees have an option to belong to the retirement plan, depending upon hours worked.
12 MONTANA STATE LOTTERY NOTES TO FINANCIAL STATEMENTS (continued) June 30, 1994 and 1993 The total number of Lottery employees covered during the years ended June 30, 1994 and 1993 was 34 and 42, respectively. Total payroll for Lottery employees was $914,535 in 1994 and $945,448 in 1993.


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