Missouri Code of State Regulations › Title 11 - DEPARTMENT OF PUBLIC SAFETY › Division 45 - Missouri Gaming Commission › Chapter 8 - Accounting Records and Procedures; Audits › Section 11 CSR 45-8.040 - Accounting Records

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes standards for
				  accounting records.
(1) Each
				licensee shall maintain complete, accurate, legible and permanent records of
				all transactions pertaining to its revenues and expenses, assets, liabilities
				and equity. The commission, from time-to-time, may direct licensees to alter
				the manner in which these records are maintained.
(2) The accounting records shall be
				maintained in accordance with generally accepted accounting principles using a
				double entry system of accounting, with transactions recorded on the accrual
				basis and supported by detailed, supporting and subsidiary records.
(3) To insure consistency, comparability and
				effective disclosure of financial information, the commission shall prescribe a
				uniform general ledger chart of accounts and accounting classifications. The
				prescribed chart of accounts shall be the minimum level of detail to be
				maintained for each accounting classification by each licensee.
(4) The detailed, supporting and subsidiary
				records shall include as a minimum the following:
(A) Detailed records identifying all
				revenues, expenses, assets, liabilities and equity for each licensee;
(B) Records of all investments, advances,
				loans and receivables due the licensee;
(C) Records related to investments in
				property and equipment;
(D) Records
				of all loans and other amounts payable by the licensee;
(E) Records of all patron checks initially
				accepted by the licensee, deposited in licensee's bank accounts, returned to
				the licensee as uncollected and ultimately written-off as
				uncollectible;
(F) Journal entries
				prepared by the licensee or the independent certified public accountant
				selected by the commission pursuant to
				11 CSR
				45-8.060(10);
(G) Tax workpapers used in preparation of any
				state or federal tax return;
(H)
				Records which identify table drop, table win and percentage of table win to
				table drop for each table game, and those records accumulated for each type of
				table game, either by shift or other accounting period approved by the
				commission, and accumulated on a month-to-date and year-to-date
				basis;
(I) Records which identify
				actual tokens-in/out, drop, payouts, fills, win amounts and percentages, and
				differences between theoretical and actual win amounts and percentages for each
				electronic gaming device on a per-day basis or other accounting period approved
				by the commission and accumulated on a month-to-date and year-to-date
				basis;
(J) Records of the cost for
				complimentary goods and services. Complimentary goods or services provided to
				patrons in the normal course of business shall be recorded at an amount based
				upon the full retail price normally charged for those goods or
				services;
(K) Records of the
				purchase, receipt and destruction of gaming chips and tokens;
(L) Records required to fully comply with all
				the federal financial recordkeeping requirements as enumerated in 31 CFR
				103;
(M) Records of the number of
				persons admitted on the riverboat;
(N) Records required by the licensee's
				internal control system; and
(O)
				Any other records that the commission requires be maintained.