MODESTO–

Okay, so you’ve got your ticket for California’s first ever drawing Wednesday night. That means you’re possibly holding a piece of your future – new car, maybe a new house.

Without doubt, you’re holding a piece of the future of every single public schoolchild in the state.

For fiscal year 2011-2012, state lottery revenues were $4.3 billion. The portion of that went to help fund California’s public schools? $1.3 billion.

A portion of the new monies brought in from the golden state’s newest game will go straight to the same place — quarterly.

Lottery dollars make up about 1% of state’s K-12 funding.  Districts see those dollars based on their “ADA,” or average daily attendance.

Last school year, that meant districts got about $34.12 per child every quarter.

Some of that cash is unrestricted and can be spent on anything — like salaries.

The other portion sent to schools is labeled “restricted” and must be spent directly on students.

California’s first Powerball drawing will be presented to the state in a live event at 8 p.m. Wednesday at lottery headquarters.