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MUNICIPAL REGULATIONS AND LICENSING 5 -15.01 <br /> 8. For any other reasonable ground, the premises on which the <br /> gambling is to be conducted are found unsuitable for that <br /> purpose. <br /> b. Approval of Applications. The city may approve an <br /> organization's application to the Charitable Gambling Control Board <br /> for a gambling license provided that subsection a. does not compel <br /> disapproval. Any such approval shall be conditioned upon the <br /> following: <br /> 1. The applicant shall be required to spend ten percent of <br /> its net profits derived from lawful gambling upon a lawful <br /> purpose specifically designated by the City Council. <br /> 2. Any other condition imposed by the Council which is <br /> reasonably calculated to effectuate any legitimate city <br /> purpose. <br /> Subdivision 5. Records of Gross Receipts, Expenses, Profits and Local <br /> Gambling. <br /> a. Each organization registered to conduct lawful gambling shall <br /> keep records of its gross receipts, quantity of free plays, if any, <br /> expenses and profits for each single gathering or occasion at which <br /> gambling is conducted. All deductions from gross receipts for each <br /> single gathering or occasion shall be documented with receipts or <br /> other records indicating the amount, a description of the purchased <br /> item or service or other reason for the deduction, and the <br /> recipient. The distribution of profits shall be itemized as to <br /> payee, purpose, amount and date of payment. <br /> b. Gross receipts from the operation of lawful gambling shall be <br /> segregated from other revenues of the organization, and placed in a <br /> separate account. Each organization shall have separate records of <br /> its gambling operations. <br /> c. Each organization registered to conduct lawful gambling shall <br /> report monthly to its membership, and to the City Council, its gross <br /> receipts, expenses and profits from gambling, and the distribution <br /> of profits itemized as required in this section. <br /> d. The City Council shall require an annual financial audit of any <br /> organization that conducts lawful gambling in the City of Falconn <br /> Heights at the organization's expense. The audit shall include <br /> information on all gross receipts, profits, and expenses incurred by <br /> the organization in the conduct of lawful gambling as well as <br /> information on uses of profits. The audit report shall be submitted <br /> to the City Council at the time of the organization's registration <br /> but no later ninety days after the end of the gambling license year. <br /> 34 <br />