(A) Each organization licensed to conduct rallies and chances 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 for each single gathering or occasion 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 receipt. The distribution of net proceeds shall be itemized as to payee, purpose, amount and date of payment.
(B) Gross receipts from the operation of the raffles program shall be segregated from other revenues of the organization, including bingo gross receipts and placed in a separate account. Each organization shall keep separate records of its raffles. The person who accounts for gross receipts, expenses and net proceeds from raffles shall not be the same person who accounts for the other revenues of the organization.
(C) Each organization licensed to conduct raffles shall report promptly after the conclusion of each raffle to its membership, and to the City Council its gross receipts, expenses and net proceeds from the raffles and the distribution of net proceeds as required by this subchapter.
(D) Records required by this section shall be preserved for three years, and organizations shall make available their records relating to operation or raffles or pokers runs for public inspection at reasonable times and places.
(Ord. 1995-12, passed 12- -1995)