Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 7 - ACCOUNTING AND RECORDS › Section 296-7.002 - ACCOUNTING RECORDS

Current through June 17, 2024
7.002.01 The holder
				of an Authorized Gaming Operator's license will keep, in accordance with the
				retention schedule, and provide to the Commission upon request the following
				records:
7.002.01A The accounting records will
				be maintained using a double entry system of accounting with transactions
				recorded on the accrual basis and supported by detailed and subsidiary
				records.
7.002.01B The Executive
				Director will prescribe a uniform chart of accounts including account
				classifications to insure consistency, comparability, and appropriate
				disclosure of financial information. The prescribed chart of accounts will be
				the minimum level of detail to be maintained for each accounting classification
				by the holder of an Authorized Gaming Operator's license.
7.002.01C The detailed subsidiary records
				will include as a minimum the following:
7.002.01C(i) Detailed general ledger accounts
				identifying all revenue sources, expenses, assets, liabilities and equity for
				the holder of an Authorized Gaming Operator's license;
7.002.01C(ii) Records of all investments,
				advances, loans and receivable balances, other than patron checks, due the
				establishment;
7.002.01C(iii)
				Record of all loans and other amounts payable by the holder of an Authorized
				Gaming Operator's license;
7.002.01C(iv) Record of all patron checks
				initially accepted by the holder of an Authorized Gaming Operator's license,
				deposited by the owner, returned to the owner as "uncollected" and ultimately
				written-off as uncollectible by the holder of an Authorized Gaming Operator's
				license;
7.002.01C(v) entries
				prepared by the holder of an Authorized Gaming Operator's license and the
				independent accountant selected by the Executive Director;
7.002.01C(vi) Tax workpapers used in
				preparation of any state or federal tax return;
7.002.01C(vii) Records that identify Table
				Drop, Table Win and percentage of Table Win to Table Drop for each live table
				Game and those records accumulated for each type of live table Game, either by
				shift or other accounting period approved by the Executive Director;
7.002.01C(viii) Records that identify the
				actual Coin-in, Coin-out, Vouchers issued, Vouchers redeemed, Electronic Gaming
				Device Drop, Electronic Gaming Device Win, Electronic Gaming Device Win to
				Electronic Gaming Device Drop and Theoretical Payout Percentage for each
				Electronic Gaming Device on a per day basis or other accounting period approved
				by the Executive Director;
7.002.01C(ix) Records supporting the
				accumulation of the costs for complimentary services and items. A complimentary
				service or item provided to patrons in the normal course of an owner's business
				will be recorded at an amount based upon the full retail price normally charged
				for such service or item;
7.002.01C(x) Records that identify the
				purchase, receipt, and destruction of Gaming Chips from all sources;
7.002.01C(xi) Records required to fully
				comply with all the federal financial record-keeping requirements as enumerated
				in 31 CFR
				103;
7.002.01C(xii) Records required by the holder
				of an Authorized Gaming Operator's license's Commission-approved Internal
				Control System;
7.002.01C(xiii)
				Workpapers supporting the daily reconciliation of cash
				accountability;
7.002.01C(xiv)
				Records concerning the acquisition or construction of a proposed or existing
				Gaming Facility; and
7.002.01D If a holder of an Authorized Gaming
				Operator's license fails to maintain the records used by it to calculate the
				gross receipts or the number of persons admitted on the Gaming Facility, the
				Executive Director may compute and determine the amount upon the basis of an
				audit conducted by the Commission based upon available information.