Deposit Review
Deposit Receipts Within Four Business Days
An organization must deposit all receipts in the gambling bank account within four business days of the completion of a bingo occasion, deal, game, or date of raffle. Electronic game receipts must be deposited when cumulative total net receipts reach $2,000 and on or before the first day of the next month.
| It’s important to get the deposit
in on time—otherwise it may be considered “temporary theft.” |
| Prevent late deposits—Know
your bank’s cut-off time to ensure deposits are credited on the day they are made. |
Deposit Slip Information
The deposit slip must clearly identify the premises, amount deposited, source of income, and also include the following:
- For electronic games, include the occasions (dates) that were the source of the deposit.
- For paper pull-tabs and tipboards include the serial number for each game.
- For bingo, include the date of the bingo occasion.
- For raffles, include the date of the raffle. Raffle deposits made prior to the month of the raffle are carried as a reconciling entry on the LG100F Gambling Fund Reconciliation.
- For paddlewheels, include the series numbers of all paddletickets sold during that day’s paddlewheel activity.
- For other gambling-related income, deposit tickets should describe the income source, such as:
- reimbursements for excessive cash shortages;
- tax refund;
- deposits for missing receipts;
- reimbursement for disallowed expenditures; or
- advertising.
Audit Deposits Each Month
- Verify that all receipts for closed games have been deposited into the gambling bank account. This verification should be done by someone other than the person who completes the Schedule B2 or LG100A.
- Compare each cash-in-hand amount reported on the Schedule B2 to the deposit receipt. The amounts should match.
- Check for accurate amounts, and verify that all deposits were made within the required timeframe. Are deposits consistently late? If yes, it is possible that money is being “borrowed” (temporary theft) by someone and reimbursed before the deposit is actually made.
- For paper pull-tab games, compare the date game was removed from play as shown on the Schedule B2 to the date on the LG861.
- Match all deposit receipts to the gambling bank statement.