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Summary of Balance Sheets _part3

Kansas Xổ số kiến thiết (Một đơn vị phần của Nhà nước của Kansas) Ghi chú báo cáo tài chính 30 tháng 6, 2010 và 2009 Giải thưởng xổ số Hot dự trữ tiền hoàn lại cho các thành viên MUSL nếu giải tán MUSL hoặc nếu một thành viên rút từ MUSL. Các thành viên rời khỏi MUSL phải chờ một năm trước khi nhận được hoàn trả. | Kansas Lottery A Component Unit of the state of Kansas Notes to Financial Statements June 30 2010 and 2009 The Hot Lotto prize reserve monies are refundable to MUSL members if MUSL disbands or if a member withdraws from MUSL. Members leaving MUSL must wait one year before receiving their refund. At June 30 2010 and 2009 the prize reserve account had a balance of 6 491 541 and 5 443 110 respectively of which the Lottery s contribution was 834 959 and 714 742 respectively. The Lottery has contributed to an account with MUSL which is used to pay certain operating expenses incurred by member lotteries for the Powerball game. With certain restrictions the balances in this account are refundable to the member lotteries upon termination of the member s agreement with MUSL or upon the disbanding of MUSL. At June 30 2010 and 2009 the Lottery s portion of the balance of this account was 153 378 and 212 576 respectively and is reported as a receivable. Win for Life Guarantee The Lottery purchases annuity contracts from insurance companies in the name of the Win for Life game jackpot prize winners. In the event an insurance company defaults on its payments the Kansas Life and Health Insurance Guarantee Association KLHIGA will make the payments. The KLHIGA was statutorily created as set forth in K.S.A. 40-3008 subsection o to provide coverage in the event an insurance company defaults. The Lottery remains contingently liable for the payment of the lifetime prizes in the event the insurance companies and the KLHIGA fail to meet their obligation. Annuity contracts have been purchased for lifetime prize payments. At June 30 2010 and 2009 the approximate remaining prize payments are 481 500 and 499 500 respectively. Prize payments are due in varying amounts through September 2048 or the life of the individuals. Litigation There may at times be claims or lawsuits to which the Lottery is a party. The Lottery management and legal counsel anticipate that the potential claims against .