(A) Each organization licensed to conduct raffles and chances shall keep such records and shall also keep records of its gross receipts, expenses and net proceeds for each single gathering or occasion at which chances are determined.
(B) Gross receipts from the operation of a raffle 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 issued by the Department of Revenue and shall be 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.
(C) Each organization licensed to conduct raffles shall report promptly after the conclusion of each raffle to its membership, and to the village, its gross receipts, expenses and net proceeds from each raffle and the distribution of net proceeds itemized as required in this section.
(D) Records required by this Section shall be preserved three years and organizations shall make available their records relating to operation of raffles inspection by the village at times and places determined by the village.
(Ord. 2018-011, passed 11-21-18)