The Joint Legislative Oversight Committee on the North Carolina State Lottery shall examine, on a continuing basis, the operations of the North Carolina State Lottery. The Committee shall make ongoing recommendations to the General Assembly on ways to improve the operations and success of the lottery. The Committee shall do all of the following in conducting its examination of the North Carolina State Lottery:
(1) Examine the administration, budgeting, and policies of the lottery.
(2) Assess the lottery's efficiency and effectiveness.
(3) Review other state lottery policies and procedures to identify improvements and options for maximizing the transfer of lottery funds to the Education Lottery Fund.
(4) Study any other matters that the Committee considers necessary to fulfill its mandate.