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Vermont Liquor and Lottery to reduce carryforward adjustment; commissioner points to accounting changes and policy shifts
Summary
Department of Liquor and Lottery Commissioner Wendy Knight told the Ways & Means committee the department is proposing a budget adjustment that reduces a planned direct application from about $20 million to roughly $9 million, citing past accounting changes, excise-tax policy and pandemic-era revenue shifts as drivers of a recurring fund deficit.
Wendy Knight, commissioner of the Vermont Department of Liquor and Lottery, told the Ways & Means committee that the department is proposing a budget adjustment to reduce a carryforward direct application from about $20 million to roughly $9 million as part of a plan to eliminate a long-standing deficit in the Liquor Control Fund.
Knight said the department operates two enterprise businesses—the Division of Liquor Control and the Vermont Lottery—and also holds regulatory authority over online sports wagering, which launched Jan. 11, 2024. "We are given the authority by the state to run 2 businesses, and they are called enterprise funds," Knight said. "We run another business, the Vermont Lottery. That's also an enterprise fund."
The department attributes the historical deficit to several factors. Knight…
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