10.1 Each Operator must maintain records of the following information with respect to bingo paper:
- serial number of the series, unless the Registrar has approved a method other than serialization for tracking bingo paper purchased, sold or in inventory;
- description of the product, including the colour of the top sheet of the packet, the cut of the bingo paper and the marketing name;
- name and address of the purchaser;
- name and address of the Gaming-Related Supplier that manufactured the bingo paper; and
- number of packets contained in each carton.
10.2 Each Operator must conduct an inventory count of bingo paper after each bingo event and must reconcile these inventory counts on a monthly basis.
10.3 Each Operator must ensure that the reconciled monthly inventory count referred to in Section 10.2 is completed no later than the fifth day of the month following the month for which the report was completed.
10.4 Each Operator must maintain the following records with respect to bingo events:
- accounting records setting out in detail the revenue and expenses for each bingo event and supporting documentation, which includes copies of statements, invoices and receipts;
- banking records that provide details of all transactions that were made in connection with the operation of bingo events; and
- a record, for each licensed bingo event, of the following:
- total number of players in attendance;
- total amount wagered;
- total prizes paid;
- a copy of the schedule of events and their prizes; and
- the number and price of cards or sheets sold by type.
10.5 Each Operator must maintain the following records with respect to gaming equipment:
- a record of all payments made by or to the Gaming-Related Supplier in relation to the purchase or sale of gaming equipment;
- a description of the goods; and
- the name and address of the person from whom the money or goods are received.
10.6 Each Operator must prepare a financial report setting out the revenues earned within the hall by the Operator or any third party with whom the Operator has a contract or who the Operator permits to provide goods and services for sale to players within or adjacent to the bingo hall on a monthly basis.
10.7 The revenues referred to under Section 10.6 must include revenue from all sources, including the commission from the sale of Ontario Lottery and Gaming Corporation products, food and beverage sales, including concessions operated by the Operator or by a third party, revenues from any other goods or services provided or sold to players and such other revenues that arise from players being present, including revenues from advertising.
10.8 The report referred to under Section 10.6 must be signed by an authorized signing officer of the Operator verifying that the report is accurate and provided to the Hall Charities Association on a monthly basis.
10.9 The Operator must provide copies of its filings in respect of Goods and Services Tax and Retail Sales Tax to confirm the revenues referred to under Section 10.6 upon request of the Hall Charities Association. Where the Operator does not sell the goods and services to the players, the Operator must provide sufficient documentation to the Hall Charities Association to satisfy the Hall Charities Association that it can confirm the information about any such sales.
10.10 The Operator is responsible for any costs associated with providing the documentation outlined in Section 10.6 and 10.9.
10.11 Each Operator must implement an internal control system.
10.12 The internal control system implemented by the Operator must provide reasonable assurance that:
- financial records and reporting are accurate, reliable and prepared on a timely basis;
- the potential for error and fraud is minimized;
- functions, duties and responsibilities are appropriately segregated;
- assets are safeguarded; and
- efficient operations are promoted.
10.13 An Operator may be required to have its internal control system reviewed by an independent accounting firm in relation to the criteria outlined in section 10.12. The report prepared by the independent accounting firm must be submitted to the Registrar as required by the Registrar.
10.14 The report outlined in section 10.13 must identify whether appropriate procedures are in place to ensure that the internal control objectives outlined in section 10.12 are met and must outline any deficiencies.
10.15 Any record required to be maintained under section 10 must be retained for a period of no less than four (4) years.