Virginia Administrative Code › Title 11 - GAMING › Agency 20 - DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES, CHARITABLE GAMING › Chapter 20 - CHARITABLE GAMING REGULATIONS › Part II - Charitable Gaming Organizations › Article 3 - Bank Accounts, Recordkeeping, Financial Reporting, Audits, Fees › Section 11VAC20-20-100 - Financial reporting, penalties, inspections, and audits

Current through Register Vol. 40, No. 24, July 15, 2024
A. Each
					 holder of a charitable gaming permit or an authorization to operate and conduct
					 electronic gaming shall file an annual report of receipts and disbursements by
					 March 15 of each year on a form prescribed by the department. The annual report
					 shall cover the activity for the fiscal year.
B. For all charitable gaming except
					 electronic gaming, the annual report shall be accompanied by the audit and
					 administration fee of 0.5% of the gross receipts and an additional fee of 0.25%
					 for the fiscal year unless the fee has been remitted with quarterly reports, or
					 the organization is exempt from payment of the fee pursuant to §
					 18.2-340.23 of the Code of Virginia.
C. For electronic gaming, the annual report
					 shall be accompanied by the audit and administration fee of 0.5% of the
					 adjusted gross receipts and an additional fee of 0.25% for the fiscal year
					 unless the fee has been remitted with quarterly reports, remitted by the
					 manufacturer pursuant to § 18.2-340.31 of the Code of Virginia. While the
					 manufacturer may pay the audit and administration fee for the organization, it
					 is the sole responsibility of the organization to ensure the fee is paid in
					 full.
D. An organization desiring
					 an extension to file its annual report for good cause shall, prior to the due
					 date established in subsection A of this section, request the extension in
					 writing on a form prescribed by the department and shall pay the projected
					 audit and administration fee, unless remitted by the manufacturer pursuant to
					 § 18.2-340.31 of the Code of Virginia or exempt from payment of the fee
					 pursuant to § 18.2-340.23 of the Code of Virginia. The extension request
					 and payment of projected fees shall be made in accordance with the provisions
					 of § 18.2-340.30 of the Code of Virginia.
E. Unless exempted by § 18.2-340.23 of
					 the Code of Virginia, qualified organizations realizing any gross gaming
					 receipts in any calendar quarter shall file a quarterly report of receipts and
					 disbursements on a form prescribed by the department as follows:
Quarter Ending
Date Due
March 31
June 1
June 30
September 1
September 30
December 1
December 31
March 1
Qualified organizations shall submit quarterly reports
						with the appropriate audit and administration fee, as established in
						subsections B and C of this section, for the quarter unless remitted by the
						manufacturer pursuant to § 18.2-340.31 of the Code of Virginia, or the
						organization is exempt from payment of the fee pursuant to § 18.2-340.23
						of the Code of Virginia. An annual financial report may substitute for a
						quarterly report if the organization has no further charitable gaming income
						during the remainder of the reporting period and the annual report is filed by
						the due date for the applicable calendar quarter.
F. An organization desiring an extension to
					 file its quarterly report for good cause shall, prior to the due date as
					 specified pursuant to subsection D of this section, request the extension in
					 writing on a form prescribed by the department and shall pay the projected
					 audit and administration fee, unless remitted by the manufacturer pursuant to
					 § 18.2-340.31 of the Code of Virginia or exempt from payment of the fee
					 pursuant to § 18.2-340.23 of the Code of Virginia. The extension request
					 and payment of projected fees shall be made in accordance with the provisions
					 of § 18.2-340.30 of the Code of Virginia.
G. Organizations failing to file required
					 reports, request an extension, or make fee payments when due shall be charged a
					 penalty of $25 per day from the due date until such time as the required report
					 is filed.
H. Any qualified
					 organization in possession of funds derived from charitable gaming or
					 electronic gaming, including those who have ceased operations, regardless of
					 when such funds may have been received or whether it has a valid permit or
					 authorization to operate and conduct electronic gaming from the department,
					 shall file an annual financial report on a form prescribed by the department on
					 or before March 15 of each year until such funds are depleted. If an
					 organization ceases the operation and conduct of charitable gaming or
					 electronic gaming, it shall provide the department with the name of an
					 individual who shall be responsible for filing financial reports. If no such
					 information is provided, the president of an organization shall be responsible
					 for filing reports until all charitable gaming or electronic gaming proceeds
					 are depleted.
I. If an organization
					 has been identified through inspection, audit, or other means as having
					 deficiencies in complying with the Charitable Gaming Law and regulations
					 adopted pursuant thereto or having ineffective internal controls, the
					 department may impose restrictions or additional recordkeeping and financial
					 reporting requirements.
J. Any
					 records deemed necessary to complete an inspection, audit, or investigation may
					 be collected by the department, its employees, or its agents from the premises
					 of an organization or any location where charitable gaming is conducted. The
					 department shall provide a written receipt of such records at the time of
					 collection.
K. An organization that
					 meets the requirements of
					 11VAC20-20-20 D 2 may use
					 electronic gaming revenue for salaries and wages of employees whose primary
					 responsibility is to provide services for the principal benefit of an
					 organization's members.
Statutory Authority: § 18.2-340.15 of the Code of
						  Virginia.