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Appendix A(8)
LOTTERIES FUND
Background
The Lotteries Fund was created on 30 June 1965 by Resolution of the Legislative Council for the purpose of financing social welfare services by grants, loans and advances. The Fund took over the unspent funds raised by lotteries held under the Government Lotteries Ordinance 1962. Between 1965 and 1975 it received the net proceeds of government lotteries held during those years. The old style lotteries were changed to the Mark Six Lottery in September 1975. The Fund is now mainly funded from this source.
Summary
Revised
Actual
Estimate
Estimate
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
$mn
$mn
Smn
$mn
$mn
$mn
OPENING BALANCE
184
233
281
320
308
268
Expenditure
45
31
47
59
98
86
Revenue
94
79
86
47
58
69
Surplus/(Deficit)
49
48
39
(12)
(40)
(17)
CLOSING BALANCE
233
281
320
308
268
251
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