| (c) For a community school established under Chapter 3314. of | 45 |
|
the Revised Code, the number of students reported for the previous | 46 |
|
fiscal year under divisions (B)(2)(a) and (b) of section 3314.08 | 47 |
|
of the Revised Code, minus the number of the school's students who | 48 |
|
also were enrolled in a joint vocational school district as | 49 |
|
certified under division (D)(1) of section 3317.03 of the Revised | 50 |
|
Code, all on an FTE basis and as verified by the superintendent of | 51 |
|
public instruction; | 52 |
| (d) For a STEM school established under Chapter 3326. of the | 53 |
|
Revised Code, the number of students reported for the previous | 54 |
|
fiscal year under division (A) of section 3326.32 of the Revised | 55 |
|
Code, minus the number of the school's students who also were | 56 |
|
enrolled in a joint vocational school district as certified under | 57 |
|
division (D)(1) of section 3317.03 of the Revised Code, all on an | 58 |
|
FTE basis and as verified by the superintendent of public | 59 |
|
instruction; | 60 |
| (e) For a chartered nonpublic school, the number of students | 61 |
|
enrolled in the school during the previous fiscal year as reported | 62 |
|
to the department of education in the manner and by the deadline | 63 |
|
established by the department of education for purposes of this | 64 |
|
section. A chartered nonpublic school's "student count" shall be | 65 |
|
determined on an FTE basis and shall include students enrolled in | 66 |
|
the school with a scholarship under sections 3313.974 to 3313.979 | 67 |
|
or Chapter 3310. of the Revised Code. | 68 |
| (B) On or before August 1, 2009, and on or before the first | 69 |
|
day of August of each fiscal year thereafter, the department of | 70 |
|
education shall pay to each entity for which a separate student | 71 |
|
count is prescribed by division (A)(3)(a), (b), (c), (d), or (e) | 72 |
|
of
this section an amount equal to the entity's student count | 73 |
|
multiplied by the per pupil distribution amount. The amount paid | 74 |
|
to an entity under this section is in addition to any other amount | 75 |
|
calculated and paid to the entity under this chapter or Chapter | 76 |
|
3310., 3313., 3314., or 3326. of the Revised Code. | 77 |
| Sec. 3770.06. (A) There is hereby created the state
lottery | 82 |
|
gross revenue fund, which shall be in the custody of the
treasurer | 83 |
|
of state but shall not be part of the state treasury.
All gross | 84 |
|
revenues received from sales of lottery tickets, fines,
fees, and | 85 |
|
related proceeds
in connection with the statewide
lottery and all | 86 |
|
gross proceeds from statewide joint lottery games
shall be | 87 |
|
deposited into the fund. The
treasurer
of state shall
invest any | 88 |
|
portion of the fund not
needed for
immediate use in the
same | 89 |
|
manner as, and subject to
all provisions
of law with respect
to | 90 |
|
the investment of, state
funds. The
treasurer of state shall | 91 |
|
disburse money from the fund
on order of
the director of the state | 92 |
|
lottery commission or the
director's
designee. | 93 |
| Except for
gross proceeds from statewide joint lottery games, | 94 |
|
all revenues of
the state lottery gross revenue fund
that are not | 95 |
|
paid to holders
of winning lottery tickets, that are
not required | 96 |
|
to meet
short-term prize liabilities, that are not
credited to | 97 |
|
lottery
sales
agents in the form of
bonuses,
commissions,
or | 98 |
|
reimbursements,
that are not paid to
financial
institutions
to | 99 |
|
reimburse
those institutions for sales
agent
nonsufficient
funds, | 100 |
|
and that are collected from sales agents for remittance to | 101 |
|
insurers under contract to provide sales agent bonding services | 102 |
|
shall be
transferred to the state
lottery
fund, which is
hereby | 103 |
|
created in
the state treasury.
In addition, all revenues of
the | 104 |
|
state lottery
gross revenue fund that represent the gross
proceeds | 105 |
|
from the
statewide joint lottery games and that are not
paid to | 106 |
|
holders of
winning lottery tickets, that are not required
to meet | 107 |
|
short-term
prize liabilities, that are not credited to lottery | 108 |
|
sales
agents in
the form of bonuses, commissions, or | 109 |
|
reimbursements, and
that are
not necessary to cover operating | 110 |
|
expenses associated with
those
games or to otherwise comply with | 111 |
|
the agreements signed by the
governor that the
director
enters | 112 |
|
into under division (J) of
section 3770.02 of the
Revised
Code or | 113 |
|
the rules the commission
adopts under division
(B)(5) of
section | 114 |
|
3770.03 of the Revised
Code shall be transferred
to the
state | 115 |
|
lottery fund. All
investment earnings of
the fund
shall be | 116 |
|
credited to the fund.
Moneys shall be disbursed
from the
fund | 117 |
|
pursuant to
vouchers
approved by the director.
Total
disbursements | 118 |
|
for monetary
prize
awards to holders of
winning
lottery tickets
in | 119 |
|
connection with
the statewide lottery and
purchases
of goods and | 120 |
|
services
awarded
as prizes to holders of
winning
lottery tickets | 121 |
|
shall be
of an
amount equal
to at least
fifty per cent of the | 122 |
|
total
revenue
accruing from the
sale of
lottery tickets. | 123 |
| (B)(1) Pursuant to Section 6 of Article XV, Ohio | 124 |
|
Constitution,
there is hereby established in the state treasury | 125 |
|
the lottery
profits education fund. Whenever, in the judgment of | 126 |
|
the director
of budget and management, the amount to the credit
of | 127 |
|
the state
lottery fund
that does not represent proceeds from | 128 |
|
statewide joint
lottery games is in excess of that needed to meet | 129 |
|
the
maturing
obligations of the commission and as working capital | 130 |
|
for
its
further operations, the director shall transfer the
excess | 131 |
|
to the
lottery profits education fund
in connection with the | 132 |
|
statewide
lottery.
In addition, whenever, in the
judgment of
the | 133 |
|
director
of
budget and management, the amount to
the credit of | 134 |
|
the state
lottery fund that represents proceeds from
statewide | 135 |
|
joint lottery
games equals the entire net proceeds of
those games | 136 |
|
as described
in division (B)(5) of section 3770.03 of
the Revised | 137 |
|
Code and the
rules adopted under that division, the
director shall | 138 |
|
transfer
those proceeds to the lottery profits
education fund. | 139 |
|
There
shall
also
be credited to the fund any
repayments of moneys | 140 |
|
loaned from
the
educational excellence
investment fund.
Investment | 141 |
|
earnings
of
the lottery profits
education fund shall be credited | 142 |
|
to the
fund. | 143 |
TheSubject to division (B)(2) of this section, the
lottery | 144 |
|
profits
education fund shall be used solely for
the
support of | 145 |
|
elementary,
secondary, vocational, and special
education programs | 146 |
|
as
determined in appropriations made by the
general assembly, or | 147 |
|
as
provided in applicable bond proceedings
for
the payment of debt | 148 |
|
service on obligations issued to pay costs
of capital
facilities, | 149 |
|
including those for a system of common
schools throughout the | 150 |
|
state pursuant to section 2n of Article
VIII, Ohio Constitution. | 151 |
|
When determining the
availability of
money in
the lottery profits | 152 |
|
education fund, the director of
budget and
management may consider | 153 |
|
all balances and estimated
revenues of
the fund. | 154 |
| (b) On or before July 15, 2009, and on or before the | 159 |
|
fifteenth day of July of each fiscal year thereafter, the director | 160 |
|
of budget and management shall certify to the superintendent of | 161 |
|
public instruction the amount by which lottery profit transfers | 162 |
|
into the lottery profits education fund during the previous fiscal | 163 |
|
year exceeded the sum of (i) the base lottery profits amount plus | 164 |
|
(ii) the amount paid from the lottery profits education fund | 165 |
|
during the previous fiscal year for debt service on obligations | 166 |
|
issued to pay costs of capital facilities, including those for a | 167 |
|
system of common schools throughout the state pursuant to section | 168 |
|
2n of Article VIII, Ohio Constitution. That excess amount is the | 169 |
|
"excess lottery profits amount" that is available for distribution | 170 |
|
in the current fiscal year. The department of education shall | 171 |
|
distribute that excess lottery profits amount during the current | 172 |
|
fiscal year in accordance with section 3317.0212 of the Revised | 173 |
|
Code. | 174 |
|
(C) There is hereby established in the state treasury the | 175 |
|
deferred prizes trust fund. With the approval of the director of | 176 |
|
budget and management, an amount sufficient to fund annuity
prizes | 177 |
|
shall be transferred from the state lottery fund and
credited to | 178 |
|
the trust fund. The treasurer of state shall
credit all earnings | 179 |
|
arising from investments purchased under this
division to the | 180 |
|
trust
fund. Within sixty days after the end of each
fiscal year, | 181 |
|
the treasurer of state shall certify to the director of budget and | 182 |
|
management whether the actuarial amount of the trust fund is | 183 |
|
sufficient over the fund's life for continued funding of all | 184 |
|
remaining deferred prize liabilities as of the last day of the | 185 |
|
fiscal year just ended. Also, within that sixty days,
the
director | 186 |
|
of budget and management shall certify
the amount of
investment | 187 |
|
earnings necessary to have been credited
to the trust
fund during | 188 |
|
the fiscal year just ending to provide
for such continued
funding | 189 |
|
of deferred prizes. Any earnings credited
in excess of
the
latter | 190 |
|
certified amount shall be transferred to the
lottery
profits | 191 |
|
education fund. | 192 |
| To provide all or a part of the
amounts necessary
to fund | 193 |
|
deferred prizes awarded by the
commission in connection with the | 194 |
|
statewide lottery, the treasurer
of state, in consultation with | 195 |
|
the
commission, may invest moneys
contained in the deferred prizes | 196 |
|
trust fund which represents proceeds from the statewide lottery in | 197 |
|
obligations of the
type permitted for the investment of state | 198 |
|
funds but whose
maturities are thirty years or less. | 199 |
|
Notwithstanding the requirements of any other section of the | 200 |
|
Revised Code, to provide all or part of the amounts necessary to | 201 |
|
fund deferred prizes awarded by the commission in connection with | 202 |
|
statewide joint lottery games, the treasurer of state, in | 203 |
|
consultation with the commission, may invest moneys in the trust | 204 |
|
fund which represent proceeds derived from the statewide joint | 205 |
|
lottery games in accordance with the rules the commission adopts | 206 |
|
under division (B)(5) of section 3770.03 of the Revised Code. | 207 |
|
Investments of the
trust fund are not subject to the provisions
of | 208 |
|
division
(A)(10) of section 135.143 of the Revised Code
limiting | 209 |
|
to
twenty-five
per cent the amount
of the state's total
average | 210 |
|
portfolio that
may be invested in debt interests
and
limiting to | 211 |
|
one-half of one
per cent the amount that may be
invested in
debt | 212 |
|
interests of a
single issuer. | 213 |
| The state lottery commission shall establish an internal | 226 |
|
audit program
before the beginning of each fiscal year, subject to | 227 |
|
the approval of the
auditor of state. At the end of each fiscal | 228 |
|
year, the commission shall
prepare and submit an annual report to | 229 |
|
the auditor of state for the auditor of
state's review and | 230 |
|
approval, specifying the internal audit work completed by
the end | 231 |
|
of that fiscal year and reporting on compliance with the annual | 232 |
|
internal audit program. The form and content of the report shall | 233 |
|
be
prescribed by the auditor of state under division (C) of | 234 |
|
section
117.20 of the Revised Code. | 235 |
| (E) Whenever, in the judgment of the director of budget and | 236 |
|
management, an amount of net state lottery proceeds is necessary | 237 |
|
to be applied
to the payment of debt service on obligations, all | 238 |
|
as defined in sections
151.01 and 151.03 of the Revised Code, the | 239 |
|
director shall transfer that amount directly from
the state | 240 |
|
lottery fund or from the lottery profits education fund to the | 241 |
|
bond
service fund defined in those sections. The provisions of | 242 |
|
this division
are subject to any prior pledges
or obligation of | 243 |
|
those amounts to the payment of bond service
charges as defined in | 244 |
division
(C) of section 3318.21 of the
Revised Code, as referred | 245 |
to in division (B)
of this section. | 246 |
