(A) Gross receipts. Each licensed organization shall keep records of its own gross receipts and profits for each bingo occasion. All deductions from gross receipts from a bingo occasion shall be documented with receipts or other records. The distribution of profits shall be itemized as to payee, amount and date of payment. Records required by this subchapter shall be preserved for three years.
(B) Record verification. Gross receipts shall be compared to the checker’s records for the bingo occasion by a person who did not sell cards for the bingo occasion. If a discrepancy exceeding $20 is found between the amount of gross receipts for a bingo occasion as determined by the checker’s records, and the amount of gross receipts as determined by totaling the cash receipts, the discrepancy shall be reported to and investigated by the Council.
(C) Separate accounts.
(1) Bingo gross receipts shall be segregated from other revenues of an organization and placed in a separate account.
(2) Each organization shall maintain separate records of its bingo operations. The person who accounts for bingo gross receipts and profits shall not be the same person who accounts for other revenue of the licensed organization.
(1978 Code, § 504.09) Penalty, see § 110.99