(A) Each organization licensed to conduct raffles and chances or poker run events 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 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 raffles programs or poker runs 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 a separate account. Each organization should have separate records for its raffles and poker runs. The person who accounts for gross receipts, expenses and net proceeds from the operation of raffles or poker runs should not be the same person who accounts for other revenues of the organization.
(C) Each organization licensed to conduct raffles or poker runs shall report monthly to its membership, or if the organization has no membership, then to its governing board, and to the City Clerk its gross receipts, expenses and net proceeds from raffles or poker runs, and the distribution of net proceeds itemized as required by this Subsection.
(D) Records required by this Subsection shall be preserved for three years, and organizations shall make available their records relating to the operation of raffles or poker runs for public inspection and City inspection at reasonable times and places.
(Prior Code, Art. 11, § 11.17(j))