(A) Each licensee shall keep records of its gross receipts, expenses, a list of names of prize winners, and net proceeds for each raffle event at which winning chances are determined. All deductions 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) Each licensee shall file its records and report with the City Clerk within 30 days following the conclusion of the raffle.
(C) Gross receipts from the operation of raffles shall be segregated from other revenues of the licensee including bingo gross receipts, if bingo games are also conducted by the same nonprofit organization pursuant to license therefore issued by the Department of Revenue of the State of Illinois, and placed in a separate account. Each licensee shall keep 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 the other revenues of the licensee.
(D) Each licensee shall report to its membership and to the city its gross receipts, expenses, and net proceeds from the raffle and the distribution of net proceeds itemized as required herein. If a license is valid for more than 30 days, the report shall be made monthly.
(E) Raffle records shall be preserved by each licensee for three years, and organizations shall make their records available relating to the operation of raffles for public inspection at the reasonable times and places.
(Ord. 2019-06, passed 6-17-2019) Penalty, see § 113.99