Monthly Gambling Report to Members

Gambling managers are required to give a monthly gambling report to membership at the organization's regular monthly meetings. The report must be included in the meeting minutes, which must be kept in a secured area for 3½ years. Use form LG1004 Monthly Gambling Report to Members as a guideline for the information that is required to be presented to members.

At the monthly meetings, members vote on all matters related to the conduct of gambling and give prior authorization for all expenditures of gross profits from gambling. The approval of expenditures is discussed more fully in the Authorization of Expenditures section.

The items listed below are required to be presented to the membership each month and recorded in the meeting minutes.

Documentation Provided	Reporting Requirements  for each form of lawful gambling conducted
1. G1 Lawful Gambling Monthly Tax Return with the following: ___ LG100A ___ Schedule B2 ___ LG100C ___ LG100F	Gross receipts Dollar amount of all prizes paid out Total value of all merchandise prizes awarded from each form of gambling conducted Lawful purpose expenditures Profit carryover reconciliation
2. Copy of check register or itemized expense journal that includes electronic transactions.	Complete details on all allowable expenses and lawful purpose expenditures including payee, amount, date issued, and purpose.
3. Copies of distributor invoices or perpetual inventory records.	Records of gambling equipment purchases, including type of equipment, quantity purchased, date purchased, unit cost, and name of distributor.
4. Copy of the month-end physical inventory.	Physical inventory taken at month end, including games in play, that lists the manufacturer's ID, part number, serial number, game name, cost of each game; and date and signature, in ink, of person completing the physical inventory.
5. Copy of itemized bank statement reconciliation (LG100F).	Gambling bank account reconciliation that balances with the profit carryover for each month and lists outstanding checks, including check number , payee, and amount; outstanding electronic transactions; deposits in transit; and beginning and ending bank balances for each month.
6. Fund loss report	Any fund loss discovered during the month.
7. Correspondence and other documents: ___ Gambling Control Board:       Approval/denial letters, allegations,       questionable expenses, profit carryover       variance, annual report, other ___ Department of Revenue:       Error corrections, tax bills, tax orders ___ IRS: Tax notices ___ Miscellaneous correspondence ___ Annual audit ___ Compliance review report ___ Bingo program	Correspondence sent or received relating to the lawful gambling operations.