205 Mass. Reg. 238.25

Current through Register 1523, June 7, 2024

Section 238.25 - Accounting Controls within the Sports Wagering Counter

A system of Internal Controls submitted by a Sports Wagering Operator in accordance with 205 CMR 238.02 shall detail the accounting controls for the Sports Wagering Counter, which shall include the following:

(1) The assets for which each Ticket Writer is responsible shall be maintained on an imprest basis. A Ticket Writer shall not permit any other person to access the Ticket Writer's imprest inventory.

(2) A Ticket Writer shall begin a shift with an imprest amount of currency and coin to be known as the "wagering inventory." No funds shall be added to or removed from the Wagering inventory during such shift except:

(a) In collection of Sports Wagers;

(b) In order to make change for a patron placing a Sports Wager;

(c) In collection for the issuance of Sports Wagering vouchers;

(d) In payment of winning or properly cancelled or refunded Wagers;

(e) In payment of Sports Wagering vouchers;

(f) To process deposits or withdrawals to or from a patron's Sports Wagering Account; or

(g) In exchanges with the cashier's cage, a satellite cage, or vault supported by proper documentation which documentation shall be sufficient for accounting reconciliation purposes.

(3) A "Wagering Inventory Slip" shall be completed and signed by the Wagering shift manager, and the following information, at a minimum, shall be recorded thereon at the commencement of a shift:

(a) The date, time, and shift of preparation;

(b) The denomination of currency and coin in the Wagering inventory issued to the Ticket Writer;

(c) The total amount of each denomination of currency and coin in the Wagering inventory issued to the Ticket Writer;

(d) The Ticket Writer station to which the Ticket Writer is assigned; and

(e) The signature of the Wagering shift manager.

(4) A Ticket Writer assigned to a Ticket Writer station shall count and verify the Wagering inventory at the vault or other approved location and shall agree the count to the Wagering Inventory Slip. The Ticket Writer shall sign the count sheet attesting to the accuracy of the information recorded thereon. The Wagering inventory shall be placed in a Ticket Writer's drawer and transported directly to the appropriate Ticket Writer station by the Ticket Writer.

(5) Whenever funds are transferred from the vault to a Ticket Writer, the Wagering shift manager responsible for the vault shall prepare a two-part Writer Transfer-Out form. Upon completion of the form, the original shall be retained by the vault manager and the duplicate shall be retained by the Ticket Writer. The form shall include, at a minimum, the:

(a) Date and time of the transfer;

(b) Designation of the vault location;

(c) Ticket Writer Station to where the funds are being transferred to;

(d) Amount of each denomination being transferred;

(e) Total amount of the transfer;

(f) Signature of the preparer of the transfer;

(g) Signature of the manager verifying and issuing the funds; and

(h) Signature of the Ticket Writer verifying and receiving the funds.

(6) Whenever funds are transferred from the Ticket Writer to a vault, a two-part Writer Transfer-In form shall be prepared. Upon completion of the form, the original shall be retained by the Ticket Writer and the duplicate shall be immediately returned with the funds to the vault. The form shall include, at a minimum, the:

(a) Date and time of the transfer;

(b) Designation of the vault location where the funds are being transferred to;

(c) Ticket Writer station to where the funds are being transferred from;

(d) Amount of each denomination being transferred;

(e) Total amount of the transfer;

(f) Signature of the Ticket Writer verifying and sending the funds to the vault; and

(g) Signature of the manager verifying and receiving the funds.

(7) At the conclusion of a Ticket Writer's shift, the Ticket Writer's drawer and its contents shall be transported directly to the vault or to a location approved by the Commission in the Sports Wagering Counter, where the Ticket Writer shall count the contents of the drawer and record the following information, at a minimum, on the Wagering Inventory Slip:

(a) The date, time, and shift of preparation;

(b) The denomination of currency, coin, gaming chips, where applicable, and coupons in the drawer;

(c) The total amount of each denomination of currency, coin, gaming chips, and coupons in the drawer;

(d) The total of the Writer Transfer-Out forms;

(e) The total of the Writer Transfer-In forms;

(f) The total amount in the drawer; and

(g) The signature of the Ticket Writer.

(8) The Wagering shift manager shall compare the Ticket Writer closing balance to the Wagering Inventory Slip total, record any over or short amount, and sign the Wagering Inventory Slip.

(9) If the Wagering Inventory Slip lists an overage or shortage, the Ticket Writer and the Wagering shift manager shall attempt to determine the cause of the discrepancy in the count. If the discrepancy cannot be resolved, such discrepancy shall be reported to the surveillance department and the Wagering manager or department supervisor in charge at such time. Any discrepancy in excess of $500.00 shall be reported to the Commission. Such report shall include the following:

(a) Date on which the discrepancy occurred;

(b) Shift during which the discrepancy occurred;

(c) Name of the Ticket Writer;

(d) Name of the Wagering shift manager;

(e) Ticket Writer Station number; and

(f) Amount of the discrepancy.

(10) Whenever funds are transferred from the vault to the cashier's cage, the Wagering shift manager responsible for the vault shall prepare a two-part Vault Transfer-Out form. Upon completion of the form, the original shall be retained by the vault manager and the duplicate shall be transferred with the funds to the cashier's cage. The form shall include, at a minimum, the:

(a) Date and time of the transfer;

(b) Designation of the vault location;

(c) Designation of the cage location;

(d) Amount of each denomination being transferred;

(e) Total amount of the transfer;

(f) Signature of the preparer of the transfer;

(g) Signature of the vault manager verifying and issuing the funds; and

(h) Signature of the cage cashier verifying and receiving the funds.

(11) Whenever funds are transferred from the cashier's cage to a vault, a two-part Vault Transfer-In form shall be prepared. Upon completion of the form, the original shall be retained by the cage cashier and the duplicate shall be transferred with the funds to the vault. The form shall include, at a minimum, the:

(a) Date and time of the transfer;

(b) Designation of the vault location where the funds are being transferred to;

(c) Cashier location where the funds are being transferred from;

(d) Amount of each denomination being transferred;

(e) Total amount of the transfer;

(f) Signature of the cage cashier verifying and sending the funds to the vault; and