N.M. Admin. Code § 15.4.10.9 - ACCOUNTING PROCEDURES
A. All
information set forth in the act is required to be documented on forms
prescribed by the board.
B. The
licensee shall separately account for the gross receipts from all games of
chance on the prescribed quarterly report forms.
C. Each licensee shall maintain a bingo
operating account to be used for all games of chance. All gross receipts shall
be deposited and all disbursements shall be made from this account.
D. A licensee must have at least one separate
general operating account in addition to a bingo operating account.
E. Funds from games of chance shall not be
co-mingled with any other funds used by the licensee.
F. The bingo operating account shall have an
end-of-month cutoff date.
G. The
licensees shall reconcile bank statements monthly.
H. Licensees shall use a check, not a debit
card, ATM card or any form of electronic transfer to pay any expense out of the
bank operating account unless an electronic payment is required by IRS,
federal, state or, bank regulations or an automated payroll system that uses
direct deposits to employees' accounts.
I. If a licensee elects to pay bingo and
raffle payroll using direct deposit, the licensee shall maintain adequate
records to document each individual transaction and will provide all copies of
such deposit record transactions with the corresponding bingo and raffle
quarterly report form. If an independent bookkeeping or payroll company is
used, the licensee shall keep a copy of the agreement that authorizes them as
the assigned agent to perform these duties.
J. Licensees with pull-tab dispensers shall
empty and reconcile the receipts and payouts weekly and at the end of each
month. The bingo manager shall ensure the audit printout is legible and
retained in its original condition.
K. The gross receipts from all games of
chance conducted during a bingo occasion shall be deposited into the bingo
operating account no later than the next business day. Gross receipts from
pull-tab dispensers shall be deposited into the bingo operating account on a
weekly basis and at the end of each month.
L. Licensees utilizing pull-tab dispensers
without a concurrent bingo occasion shall complete an approved record as
defined in
15.4.1.7 NMAC for each pull-tab
dispenser on a weekly basis.
M.
Deposit records must be sufficient to allow a determination of deposits made
from each occasion and each game of chance.
N. Signature stamps shall not be
allowed.
O. Pre-signed checks shall
not be allowed.
P. Checks shall be
consecutively numbered and signed by two authorized persons.
Q. No check shall be drawn to "cash" or a
fictitious payee. All checks used to withdraw funds from the bingo operating
account to replenish prize payouts or the change fund shall be made payable to
the licensee and the memo section shall state "prize payouts" or "change
fund".
R. A perpetual inventory of
the bingo paper and pull-tabs shall be maintained by the bingo manager on a
form approved by the board.
S. All
bingo paper and pull-tab not intended for sale due to defect, damage or any
other reason shall be segregated, and destroyed or returned to a licensed
distributor:
(1) prior to the segregation or
destruction of any bingo paper and pull-tabs:
(a) the material shall be inventoried and
recorded on a form approved by the board;
(b) the form signed by the highest ranking
officer of the licensee that does not hold a valid staff permit; and
(c) the form shall be submitted to the
board's audit division.
(2) all bingo paper and pull-tab returned to
a licensed distributer shall:
(a) be
inventoried and recorded on a form approved by the board;
(b) have this form signed by a representative
of the licensed distributor;
(c)
any monies paid by the distributor to the operator for returns shall not be
subject to the bingo and raffle tax; and
(d) segregated pull-tabs and documentation
regarding the return of pull-tabs to a licensed distributor or the destruction
of pull-tabs shall be retained pursuant to
15.4.1.12
NMAC.
T. All
unaccounted for bingo paper and pull-tabs may be subject to the bingo and
raffle tax.
U. Bingo paper and
pull-tab inventories shall not be stored or in any way comingled with the bingo
paper and pull-tabs of any other licensee.
V. Any deposits made into the bingo operating
account from the organization's general operating account for the purpose of
sustaining bingo, pull-tab and raffle activity shall be noted on the deposit
slip. These deposits are not considered to be bingo and raffle activity
receipts and therefore, not subject to bingo and raffle tax.
Notes
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