Arkansas Administrative Code › Agency 006 - Department of Finance and Administration › Division 02 - Alcoholic Beverage Control Division › Rule 006.02.05-002 - Amendment to Sections 1.20(16), 1.34, 1.79(4), 2.13, 2.17.1

Current through Register Vol. 49, No. 6, June, 2024
Section 1.20(16)
			 Any person applying for a Sunday alcoholic beverage permit shall prove certain
			 gross sales figures by submitting a financial schedule which a licensed
			 accountant has applied agreed upon procedures as outlined below in accordance
			 with attestation standards established by the American Institute of Certified
			 Public Accountants. As used in Regulations that apply to Sunday alcoholic
			 beverage permits, financial statement shall mean a financial presentation that
			 shows a statement of operations by product lines that show gross sales for the
			 following product Jines:
(a) receipts
for
sleeping accommodations (if applicable);
(b) food and food items;
(c)  non-alcoholic beverage sales;
(d) alcoholic beverage sales;
(e) in the case of excursion boats, boat
			 rental fees. Alcoholic beverage means all intoxicating liquor of any sort.
The accountant shall include
an
additional
				paragraph in the accountant's report which suites that, based on the
				accompanying financial schedule, the applicant does or docs not have gross
				sales of sixty percent (60%) or more from items contained in categories (a),
				(b), (c), and (e) when gross sales of all product lines as set forth above arc
				considered. Only twenty percent (20%) of receipts for sleeping
accommodations
may
be used
in
meeting this test. The financial statement shall reflect the items as called
				for above, as well as other items required by generally accepted accounting
				principled,
At a minimum the agreed upon procedures shall include:
				verification of the mathematical
accuracy
of the financial
				schedule submitted as a part of the accountant's report; sales categories
				included on the financial schedule that have been traced to the related
				underlying accounting records and documentation; and that the sales categories
				were found to be fairly presentee
The
reporting period
shall be for
the
				previous
twelve (12) full
calendar-months
prior to
				the month of application or portion thereof that the applicant has held, an on
				premises retail beverage permit. The reporting period shall not be less that
				three (3) full calendar months. Persons who have been a holder of an on
				premises retail beverage permit for less than ninety (90) days and who are
without prior business experience
shall
not he
				required to comply with this
Regulation, but shall meet the
				requirements of Section 1.20 ( 17) of these Regulations in applying for a
				temporary permit. Applicants for this permit shall post the premises and
				publish notice of the application as set forth in Sections 1.23 and 1.26 of
				these Regulations, as well as any other requirements that
apply
to
permits issued by the Alcohoiic Beverage
				Control Division.
In cases where one business entity purchases another business
				entity which holds an on premises retail beverage permit, the purchaser may
				either 'stand in the shoes" of the seller, and use such financial data as would
				be furnished by the seller
or may choose to operate as a new business
				entity and provide the
buyer's financial data to determine whether or
				not the new business is qualified to apply for and hold a regular or temporary
				Sunday alcoholic beverage permit under these Regulations;