Section 68 IAC 21-11-1 - Records of qualified organizationAuthority: IC 4-32.3-3-3
Affected: IC 4-32.3-4-3; IC 4-32.3-5-16
Sec. 1.
(a) A qualified organization must maintain records of all financial aspects of each allowable activity adequate for the commission to conduct oversight as authorized and required by IC 4-32.3 and to report the information to the commission on forms prescribed by the commission. Except for a candidate's committee, a convention license, and an exempt event, the organization must set up a separate and segregated checking account to account for the proceeds and expenditures of the allowable activity. If a qualified organization donates gaming proceeds to another qualified organization that is licensed by the commission, then the donee qualified organization must account for the donation and related expenditures in its own separate and segregated charity gaming checking account. The records that must be kept and the information that must be submitted on the forms prescribed by the commission include, but are not limited to, the following:(1) Gross receipts from each type of activity conducted at each allowable activity.(3) Net receipts to the organization. The rental costs associated with conducting an allowable activity, including, but not limited to, a facility lease and the lease of tangible personal property, must be included in the organization's financial records.
(b) The appropriate financial forms prescribed by the commission must be provided as follows:(1) Annual license holders must submit the appropriate forms prescribed by the commission postmarked not later than the tenth day of the month in which the annual license expires.(2) Single activity license holders must submit the appropriate forms prescribed by the commission not more than ten (10) days after the allowable activity is concluded.(3) Qualified organizations conducting an exempt event must submit the appropriate forms prescribed by the commission annually, one (1) year after the date of the first exempt event of a calendar year. If the value of all prizes awarded for a single exempt event exceeds two thousand five hundred dollars ($2,500) or exceeds an aggregate of a total of seven thousand five hundred dollars ($7,500) for all exempt events at any point during the calendar year, a qualified organization shall submit the appropriate forms prescribed by the commission within ten (10) days of exceeding the limit.(c) The commission shall be granted unrestricted access to the records of a qualified organization, including, but not limited to, the following: (1) Membership information.(3) Receipts for the purchase or lease of all licensed supplies.(d) A qualified organization must retain the following records for three (3) years from the conclusion of the financial accounting period for the license containing the allowable activity:(1) All documents associated with allowable activities.(2) All other documents kept in the regular course of allowable activities.Indiana Gaming Commission; 68 IAC 21-11-1; filed 7/29/2021, 3:00 p.m.: 20210825-IR-068200466FRA