(a) The village manager shall keep or cause to be kept a complete record of all licenses issued by the manager under this article, and shall forward a copy to the chief of police. The village manager shall inform the chief of police from time to time of any changes in a raffle licensed under this article, and of the revocation or suspension of any license.
(b) Each organization licensed to conduct a raffle under this article shall keep records of its gross receipts, expenses and net proceeds for each single gathering or occasion at which winning chances are determined. All deductions from gross receipts 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.
(c) Gross receipts from the operation of raffle programs shall be segregated from other revenues of the organization, including bingo gross receipts if licensed bingo games are also conducted by the same nonprofit organization, and placed in a separate account. Each organization shall have separate records of its raffles. The person who accounts for gross receipts, expenses and net proceeds from the operation of raffles shall not be the same person who accounts for other revenues of the organization.
(d) Each organization licensed to conduct a raffle under this article shall, within sixty (60) days after the conclusion of the raffle, report its gross receipts, expenses and net proceeds from the raffle, and the distribution of net proceeds from the raffle, itemized as to payee, purpose, amount and date of payment, to its membership and to the Village Manager. (Ord. 0-11-10, 3-21-2011)