296 Neb. Admin. Code, ch. 7, § 296-7.002

Current through September 17, 2024

Section 296-7.002 - ACCOUNTING RECORDS

7.002.01 The holder of an Authorized Gaming Operator's license will keep, in accordance with the retention schedule, and provide to the Commission upon request the following records:

7.002.01A The accounting records will be maintained using a double entry system of accounting with transactions recorded on the accrual basis and supported by detailed and subsidiary records.

7.002.01B The Executive Director will prescribe a uniform chart of accounts including account classifications to insure consistency, comparability, and appropriate disclosure of financial information. The prescribed chart of accounts will be the minimum level of detail to be maintained for each accounting classification by the holder of an Authorized Gaming Operator's license.

7.002.01C The detailed subsidiary records will include as a minimum the following:

7.002.01C(i) Detailed general ledger accounts identifying all revenue sources, expenses, assets, liabilities and equity for the holder of an Authorized Gaming Operator's license;

7.002.01C(ii) Records of all investments, advances, loans and receivable balances, other than patron checks, due the establishment;

7.002.01C(iii) Record of all loans and other amounts payable by the holder of an Authorized Gaming Operator's license;

7.002.01C(iv) Record of all patron checks initially accepted by the holder of an Authorized Gaming Operator's license, deposited by the owner, returned to the owner as "uncollected" and ultimately written-off as uncollectible by the holder of an Authorized Gaming Operator's license;

7.002.01C(v) entries prepared by the holder of an Authorized Gaming Operator's license and the independent accountant selected by the Executive Director;

7.002.01C(vi) Tax workpapers used in preparation of any state or federal tax return;

7.002.01C(vii) Records that identify Table Drop, Table Win and percentage of Table Win to Table Drop for each live table Game and those records accumulated for each type of live table Game, either by shift or other accounting period approved by the Executive Director;

7.002.01C(viii) Records that identify the actual Coin-in, Coin-out, Vouchers issued, Vouchers redeemed, Electronic Gaming Device Drop, Electronic Gaming Device Win, Electronic Gaming Device Win to Electronic Gaming Device Drop and Theoretical Payout Percentage for each Electronic Gaming Device on a per day basis or other accounting period approved by the Executive Director;

7.002.01C(ix) Records supporting the accumulation of the costs for complimentary services and items. A complimentary service or item provided to patrons in the normal course of an owner's business will be recorded at an amount based upon the full retail price normally charged for such service or item;

7.002.01C(x) Records that identify the purchase, receipt, and destruction of Gaming Chips from all sources;

7.002.01C(xi) Records required to fully comply with all the federal financial record-keeping requirements as enumerated in 31 CFR 103;

7.002.01C(xii) Records required by the holder of an Authorized Gaming Operator's license's Commission-approved Internal Control System;

7.002.01C(xiii) Workpapers supporting the daily reconciliation of cash accountability;

7.002.01C(xiv) Records concerning the acquisition or construction of a proposed or existing Gaming Facility; and

7.002.01D If a holder of an Authorized Gaming Operator's license fails to maintain the records used by it to calculate the gross receipts or the number of persons admitted on the Gaming Facility, the Executive Director may compute and determine the amount upon the basis of an audit conducted by the Commission based upon available information.

296 Neb. Admin. Code, ch. 7, § 296-7.002

Adopted effective 5/16/2022

Amended effective 2/1/2023