Illinois Administrative Code › Title 11 - ALCOHOL, HORSE RACING, LOTTERY, AND VIDEO GAMING › Part 412 - UNIFORM SYSTEM OF ACCOUNTS › Section 412.60 - Income Accounts

Current through Register Vol. 48, No. 28, July 12, 2024
301 Mutuel Commissions
This account shall reflect the monies legally retainable by the
				licensee under the applicable statute, with the exception that such commissions
				are to be recorded net of those monies retained due to breaks. This account
				shall not include applicable state privilege taxes or Special Purse and Reward
				Fund requirements. When minus pools occur, the payment made by the licensee to
				meet the public pool requirements shall be recorded as deduction from this
				account.
302 Race Track Improvement Fund
This account shall include only those monies deposited with the
				State Treasurer in the licensee's account pursuant to Section 32(b) of the Act.
				The state's share of the breakage generated from the racing meet is not to be
				recorded in this account.
303 Admissions
This account shall reflect the gross receipts from all
				admission sources, excluding that portion of receipts applicable to local and
				state taxes.
Typical Items
Grandstand and clubhouse gate receipts
Reserved seat and box seat sales and rentals
Club membership receipts
Special guest receipts
304 Concession Receipts
This account shall include all receipts from sales of food and
				drink as well as other concessions, such as cigarettes, novelties, field
				glasses rental, etc., which have occurred at the racing meeting being reported
				upon. Similar income received from other licensees while they are conducting
				racing meetings shall be recorded as "other income." (See Account #470 in 11
				Ill. Adm. Code Section
				412.70 )
In those instances where the licensee conducting the racing
				meeting does not operate its own restaurant, bar or concession services, the
				income recorded in this account shall be equal to any commission or contract
				income received from the outside operators of such facilities.
305 Program Receipts
This account shall include all receipts from sales of daily
				race programs and pencils.
When this operation is performed by individuals or
				organizations other than the licensee conducting the race meet, the income
				recorded in this account shall be equal to any commission or contract income
				received from such other individuals or organizations.
306 Newspapers and Publication Receipts
This account shall include all receipts from sales of
				newspapers, racing publications (other than daily race programs) and tip
				sheets.
When this operation is performed by individuals or
				organizations other than the the licensee conducting the racing meet, the
				income recorded in this account shall be equal to any commission or contract
				income received from such other individuals or organizations.
307 Parking Receipts
This account shall include all receipts generated from the
				operation of parking facilites by the licensee conducting the racing meeting
				being reported upon. Similar income received from other licensees while they
				are conducting racing meetings shall be recorded as "other income." (See
				Account #470 in 11 Ill. Adm. Code Section 412.70)
In those instances where the licensee conducting the racing
				meeting does not operate its own parking facilities, any income received under
				terms of the agreement with the outside operator of such facilities shall be
				recorded in this account.
Typical Items
General parking lot entrance fees
Preferred parking fees