Reporting a Fund Loss

1. Report the loss to the membership and document it in the meeting minutes.
   
   
2. For instructions on reporting the game(s) on a separate Schedule B2, refer to the tax instruction booklet available from the Department of Revenue.
   
   
3. If part of the game or money is missing, contact the Department of Revenue at 651-297-1772 for assistance on determining how the game should be reported on the Schedule B2.
   
   
4. Submit the Schedule B2 with the tax return due for that month.
   
   
5. The games should be noted in the inventory records as a fund loss and should no longer be included as unplayed on the inventory records.
   
   
6. Record the amount of the loss on the LG100F, Gambling Fund Reconciliation, until the fund loss is either approved or denied by the Gambling Control Board.

For questions on reporting a fund loss, contact your compliance specialist.