New Mexico Administrative Code › Title 15 - GAMBLING AND LIQUOR CONTROL › Chapter 4 - BINGO AND RAFFLES › Part 10 - ACCOUNTING REQUIREMENTS › Section 15.4.10.9 - ACCOUNTING PROCEDURES

Current through Register Vol. 35, No. 13, July 16, 2024
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.