(A) Gross receipts. Each organization licensed to operate gambling devices shall keep records of its gross receipts, expenses and profits for each single gathering or occasion at which gambling devices are operated or a raffle is conducted. 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 profits shall be itemized as to payee, purpose, amount and date of payment.
(B) Separation of funds. Gross receipts from the operation of gambling devices and the conduct of raffles shall be segregated from other revenues of the organization and placed in a separate account. The person who account for gross receipts, expenses and profits from the operation of gambling devices or the conduct of raffles shall not be the same person who accounts for other revenues of the organization.
(C) Monthly reports. Each organization licensed to operate gambling devices or the conduct of raffles shall report monthly to its membership, and to the City Clerk, its gross receipts, expenses and profits from gambling devices or raffles and the distribution of profits. The licensee shall preserve the records for three years.
(Prior Code, § 935.17) Penalty, see § 114.99