Each licensed organization shall keep records, for no less than three (3) years, of its gross receipts, expenses and net proceeds for each single raffle. All deductions from gross receipts for each single raffle shall be documented with receipts or other records indicating the amount, a description of the purchased item or service or other reason for the deduction, and the recipient. The distribution of net proceeds shall be itemized as to payee, purpose, amount and date of payment.
Each licensed organization shall report promptly after the conclusion of each raffle to its membership, and to the licensing commissioner, its gross receipts, expenses and net proceeds from raffles, and the distribution of itemized net proceeds. (Ord. 1998-08, 7-6-1998)