(3) Books and records

3.1 Licensees must keep a copy of the reports that they are required to submit to licensing authorities.

3.2 Licensees must open a DLTA to administer all the funds derived from lottery events. The HCA must open a CDTA on behalf of its member organizations to administer all the funds derived from lottery events conducted in the bingo hall. The DLTA and CDTA must have the following features:

  1. cheque writing privileges and monthly statements issued;
  2. all cheques or electronic images of backs and fronts of cheques must be returned with the monthly statement;
  3. all cheques or other withdrawals require the signature of at least two (2) signing officers who must be bona fide members of two (2) different members of the licensee; and
  4. in the case of an HCA, all cheques or other withdrawals require the signature of at least two (2) signing officers who must be bona fide members of two (2) different member organizations of the HCA.

3.3

  1. Licensees must provide details of the DLTA to the licensing authorities.
  2. The HCA must provide details of the CDTA to the licensing authorities.

3.4 For each DLTA, licensees must maintain at a minimum the following general ledger accounts:

  1. designated lottery trust account;
  2. a revenue account for each type of lottery;
  3. a prize account for each type of lottery;
  4. an account for expenses related to each type of lottery;
  5. an account for licence fees for each type of lottery;
  6. an administrative expense account for each type of lottery;
  7. if prescribed by the Registrar, a Marketing Fund account;
  8. a bank charges account;
  9. a bookkeeping expenses account;
  10. an audit or accounting expenses account;
  11. an account for the reimbursement of out-of-pocket expenses of bona fide members

3.5 For each CDTA, the HCA must maintain at a minimum the following general ledger accounts:

  1. consolidated designated trust account;
  2. a revenue account for each type of lottery;
  3. a prize account for each type of lottery;
  4. an account for the allocation of five (5) per cent of break open ticket gross wager to the member organizations of the Hall Charities Association;
  5. an account for expenses related to each type of lottery;
  6. an account for licence fees for each type of lottery;
  7. an administrative expense account for each type of lottery;
  8. if prescribed by the Registrar, a Marketing Fund account;
  9. a bank charges account;
  10. a bookkeeping expenses account;
  11. an audit or accounting expenses account;
  12. an account for the reimbursement of out-of-pocket expenses of bona fide members; and
  13. a disbursement account for member organizations who are members of the HCA.

3.6 In addition to a general journal, the licensee must prepare a revenue journal. At minimum, the daily revenue journal must contain the following information:

  1. date and time of the lottery event;
  2. gross receipts for each type of lottery conducted;
  3. prizes awarded for each type of lottery conducted;
  4. licence fee;
  5. out-of-pocket expenses paid for each lottery event;
  6. overages or shortages incurred by each lottery event;
  7. the actual amount of cash deposited, supported by a deposit slip, for each type of lottery conducted;
  8. the financial information set out in each daily revenue journal, totalled at the end of each month and posted to the general ledger.

 

3.7 In addition to a general journal, the HCA must prepare a daily revenue journal. At minimum, the daily revenue journal must contain the following information:

  1. date and time of the lottery event;
  2. name of the licensee;
  3. gross receipts for each type of lottery conducted;
  4. prizes awarded for each type of lottery conducted;
  5. licence fee;
  6. out-of-pocket expenses paid for each lottery event;
  7. overages and shortages incurred by each lottery event;
  8. the actual amount of cash deposited, supported by a deposit slip, for each type of lottery conducted; and
  9. the financial information set out in each daily revenue journal, totaled at the end of each month and posted to the general ledger.

3.8 The bank reconciliation must be completed at the end of each month after the receipt of the DLTA or CDTA bank statement. All deposits must be verified and any cheques or disbursements must be reviewed. All items must be accounted for on the bank statement.

3.9

  1. Two (2) bona fide members of different licensees that are member organizations of the HCA must be designated to administer the CDTA.
  2. Two (2) bona fide members of the licensee must be designated to administer the DLTA.

3.10 The licensee and HCA must provide a financial report to its Board of Directors on a monthly basis summarizing all lottery events and activity on the DLTA or CDTA. The report must cover the entire month.

3.11 The bank reconciliation for the DLTA must be reviewed and approved monthly by at least two (2) bona fide members of the licensee.

3.12 The bank reconciliation for the CDTA must be reviewed and approved monthly by at least two (2) bona fide members of different licensees that are member organizations of the HCA.

3.13 The licensee and HCA must ensure that all withdrawals from their respective DLTAs or CDTAs are made by cheque or by electronic funds transfer for the payment of expenses as permitted by the Registrar or for the use of net proceeds as approved in the application for Licence.

3.14 The licensee and HCA must ensure that there are no transfers between any DLTA or a CDTA and a general operating account.