AnnuAl rEPort - Vermont Lottery

NOTES TO FINANCIAL STATEMENTSJune 30, 2008 and 2007VERMONT LOTTERY COMMISSIONANNUAL REPORTFISCAL YEAR 20086. Inventory:The Lottery had inventory consisting of lottery tickets on hand and prizes valued at a cost of $333,175 and $18,750 at June30, 2008 and $299,143 and $90,350 at June 30, 2007, respectively.7. Property and equipment:The following is a summary of changes in property and equipment during the fiscal years.2008Net PropertyBalance Balance Accumulated & EquipmentJuly 1, 2007 Additions Retirements June 30, 2008 Depreciation June 30, 2008Computerequipment $ 41,239 $ - $ - $ 41,239 $ (41,239) $ -Furniture &fixtures 56,114 - - 56,114 (50,072) 6,042Other equipment 130,754 - - 130,754 (100,855) 29,899Leaseholdimprovements 49,635 - - 49,635 (18,374) 31,261$ 277,742 $ - $ - $ 277,742 $ (210,540) $ 67,2022007Net PropertyBalance Balance Accumulated & EquipmentJuly 1, 2006 Additions Retirements June 30, 2007 Depreciation June 30, 2007Computerequipment $ 41,239 $ - $ - $ 41,239 $ (40,838) $ 401Furniture &fixtures 56,114 - - 56,114 (46,262) 9,852Other equipment 122,359 19,339 (10,944) 130,754 (86,517) 44,237Leaseholdimprovements 49,635 - - 49,635 (13,111) 36,524$ 269,347 $ 19,339 $ (10,944) $ 277,742 $ (186,728) $ 91,01422