Section Lot 7007.01 - Financial Requirements for Charitable Organizations(a) Pursuant to RSA 287-E:9, IV, the charitable organization shall maintain the following separate checking accounts at a financial institution with at least one office in New Hampshire for the deposit and disbursement of all income relating to bingo and lucky 7, except cash prizes awarded at the games: (1) A checking account solely for depositing bingo and lucky 7 revenue; and(2) A checking account solely for depositing winner-take-all, carryover coverall and progressive coverall revenue.(b) The charitable organization shall only use the funds in the account specified in (a)(1) above for: (1) Expenditures related to bingo or lucky 7; or(2) Disbursement of bingo or lucky 7 proceeds for a charitable purpose for which the organization is created.(c) The charitable organization shall: (1) Deposit all receipts from bingo, except for cash used to make prize pay-outs of less than $500 per prize, and the amount retained as a cash back, into the bingo account within 2 days of the bingo event;(2) Not commingle bingo and lucky 7 funds with other funds of the charitable organization;(3) Separately identify money deposited from bingo and lucky 7 revenue;(4) Pay all expenses by consecutive numbered checks or electronic funds transfer;(5) Not withdraw funds by withdrawal slip or by writing checks payable to "cash;(6) Not transfer or deposit any funds, other than bingo or lucky 7 revenues, into the account specified in (a)(2) above, except as allowed by (8) below;(7) Transfer the 7% reimbursement fee specified in Lot 7007.02(d) below from the account specified in (a)(2) above to the account specified in (a)(1) above; (8) Pay all prizes of $500 or more by preprinted, consecutively numbered checks from the account specified in (a)(1) above; and(9) Retain all cancelled checks for payment of expenses and prizes for at least 2 years.(d) A charitable organization shall:(1) Maintain complete and accurate financial documentation related to the operation of bingo games with sufficient detail to enable preparation and verification of the monthly financial reports required by Lot 7007.03 below;(2) Keep the bank statements for the bingo account on the premises where the tickets are sold;(3) Retain financial documentation, including receipts and invoices, relative to all revenue and expenses contained in the financial reports required in Lot 7007.03 below, and all cancelled checks for payment of expenses and prizes, for at least 2 years;(4) For items provided or donated at no cost to the organization, obtain and retain documented evidence from the donor that no costs was incurred by the organization; and(5) Make all financial and account records, and inventory available upon request for inspection by the commission or its authorized representative.N.H. Admin. Code § Lot 7007.01
Derived from Volume XL Number 28, Filed July 9, 2020, Proposed by #13067, Effective 6/26/2020, Expires 6/27/2030 (See Revision Notes #1, #2, and #3 at chapter heading for Lot 7000).