N.J. Admin. Code § 13:69D-1.2

Current through Register Vol. 56, No. 24, December 18, 2024

Section 13:69D-1.2 - Accounting records

(a) Each casino licensee shall maintain complete, accurate and legible records of all transactions pertaining to the revenues and costs for each establishment.

(b) General accounting records shall be maintained on a double entry system of accounting with transactions recorded on an accrual basis. Detailed, supporting, subsidiary records sufficient to meet the requirements of (c) below shall also be maintained in accordance with the requirements of this chapter. The Division shall periodically prescribe a uniform chart of accounts and accounting classification in order to insure consistency, comparability and effective disclosure of financial information.

1. The chart of accounts shall provide the classifications necessary to prepare the standard financial statements required by N.J.A.C. 13:69D-1.6.

2. The prescribed chart of accounts shall be the minimum level of detail to be maintained for each accounting classification by the licensee.

3. The licensee may expand the level of detail for some or all accounting classifications and/or alter the account numbering system. In such instances, the licensee shall provide to the Division, upon request, a cross-reference from the licensee's chart of accounts to the prescribed chart of accounts.

(c) The detailed, supporting, and subsidiary records shall include, at a minimum:

1. Records of all patron checks initially accepted by the licensee, deposited by the licensee, returned to the licensee as "uncollected," and ultimately written-off as uncollectible;

2. Statistical game records to reflect drop and win amounts or, for the game of poker, the poker revenue, by table for each table game and electronic table game, and by keno work station number or keno writer for the game of keno;

3. Records supporting the accumulation of the costs and number of persons, by category of service, for complimentary services;

4. Records of all investments, advances, loans and receivable balances, other than patron checks;

5. Records related to investments in property and equipment including those that identify the investments made under section 144 of the Casino Control Act as an alternative to the additional two percent tax on gross revenues;

6. Records which identify the handle, payout, win amounts and percentages, theoretical win amounts and percentages, and differences between theoretical and actual win amounts and percentages, for each slot machine on a week-to-date, month-to-date, and year-to-date basis;

7. Records of all loans and other amounts payable by the establishment;

8. Records which identify the purchase, receipt, and destruction of gaming chips, promotional gaming chips, and plaques;

9. Records provided for in the system of internal accounting controls pursuant to the Casino Control Act; and

10. Records used by the casino licensee to reconcile simulcast wagers with sending tracks, calculate outstanding pari-mutuel tickets and calculate payments to the Racing Commission.

N.J. Admin. Code § 13:69D-1.2

Amended by 56 N.J.R. 1182(b), effective 7/1/2024