New Jersey state lottery proceeds fell 25.6% in April vs. the year-earlier period and 13.3% for the first 10 months of the current fiscal year, continuing to pressure the state's ability to make its full fiscal year contribution to the state's pension system.
The state counts on the lottery for about $1 billion a year to help with the total payment to the pension system, which is supposed to be $3.75 billion for the current fiscal year. If the lottery comes up short, the state must take more money out of general revenues — or reduce its contribution.
The state has made three quarterly payments of $684 million, but government officials haven't commented on the fourth payment, which originally would have been due June 30. However, Gov. Phil Murphy recently signed a law extending the current fiscal year to Sept. 30 from June 30.
The lottery figures were contained in a report issued Wednesday by the state Department of Treasury. The report contained no comment about the April lottery proceeds of $60.85 million vs. $81.74 million for April 2019. For the 10 months ended April 30, the department said lottery proceeds of $768.66 million trailed the $887 million for a corresponding period last year.
Lottery proceeds are counted separately from other state revenues.
The Treasury Department report said April revenue from major taxes was $2.35 billion "down an unprecedented $3.5 billion, or 59.7%, below last April as the economic impact of the global pandemic begins to take its toll on the state's finances."