The National Lottery Distribution Trust Fund (NLDTF) is established in terms of the Lotteries Act which designates members of the Board as trustees of the NLDTF. It is their job to safeguard this money, invest it wisely, and ensure that it is put to the best possible use to benefit good causes.
The NLC is also responsible for reporting annually to Parliament on the management of the NLDTF.
At present the percentage of National Lottery revenue that is transferred to the NLDTF is 27%. This is fixed in the licence granted to the current National Lottery operator. Each week this percentage of National Lottery revenue is transferred to the NLDTF.
The annual contribution of the National Lottery to the NLDTF in recent years is detailed below:
The financial year of the NLC and the NLDTF runs from 1 April to 31 March and funds accumulated during a particular financial year are available for distribution in the following year.
This includes interest earned on the money in the fund. Any money that is not allocated in a given financial year remains in the fund and can be allocated in subsequent years.
In line with the regulations of the Lotteries Amendment Act, No 32 of 2013, the allocation of NLDTF funds to the different sectors is set down in regulations and is currently as follows: