Difference between revisions of "National Lottery Distribution Trust Fund"
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| − | (Acronym: [[NLDTF]]) | + | The [[National Lottery Distribution Trust Fund]] (Acronym: [[NLDTF]]) is a major sponsor for arts and culture projects in South Africa. |
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| + | Approximately a third of the total annual income from the [[National Lottery]] is set aside for distribution by the [[National Lottery Distribution Trust Fund]], which has been established in terms of the Lotteries Act to "safeguard this money, invest it wisely, and ensure that it is put to the best possible use to benefit good causes"[http://www.nlb.org.za/general-public/the-nldtf.html]. It is overseen by a government appointed [[National Lottery Board]], which is responsible for reporting annually to Parliament on the management of the [[NLDTF]]. | ||
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| + | A percentage of [[National Lottery]] revenue is transferred to the [[NLDTF]] each week, for distribution to various public sectors, including the Sport and Recreation Sector, the Arts, Culture and National Heritage Sector and a category for Miscellaneous Purposes. | ||
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| + | 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. | ||
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Revision as of 16:54, 30 October 2024
The National Lottery Distribution Trust Fund (Acronym: NLDTF) is a major sponsor for arts and culture projects in South Africa.
Approximately a third of the total annual income from the National Lottery is set aside for distribution by the National Lottery Distribution Trust Fund, which has been established in terms of the Lotteries Act to "safeguard this money, invest it wisely, and ensure that it is put to the best possible use to benefit good causes"[1]. It is overseen by a government appointed National Lottery Board, which is responsible for reporting annually to Parliament on the management of the NLDTF.
A percentage of National Lottery revenue is transferred to the NLDTF each week, for distribution to various public sectors, including the Sport and Recreation Sector, the Arts, Culture and National Heritage Sector and a category for Miscellaneous Purposes.
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.
Sources
http://www.nlb.org.za/general-public/the-nldtf.html
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