(A) Each organization licensed to conduct raffles and chances shall keep the 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 recipient. The distribution of net proceeds shall be itemized as to payee, purpose, amount and date of payment.
(B) Gross receipts from the operation of a raffle program shall be segregated from other revenues of the organization, including bingo gross receipts, if bingo games are also conducted by the same nonprofit organization pursuant to license therefor issued by the department of revenue of the State of Illinois, and placed in separate account. Each organization shall have separate records of its raffles. The person who accounts for gross receipts, expenses and net proceeds from the operations of raffles shall not be the same person who accounts for other revenues of the organization.
(C) Records shall be preserved for three years and the organization shall make available the recorded relating to the operation of raffles for public inspection at reasonable times and places.
(Ord. 2013-23, passed 11-25-2013)