Laserfiche WebLink
5 -3.06 <br /> a. The applicant shall be required to <br /> spend 105 of its net profits derived from <br /> lawful gambling upon a lawful purpose <br /> specifically designated by the city <br /> council. <br /> b. Any other condition imposed by the <br /> A council which is reasonably calculated to <br /> effectuate any legitimate city purpose. <br /> E. Records of gross receipts, expenses, profits and <br /> local gambling. <br /> 1. Each organization registered to conduct lawful <br /> gambling shall keep records of its gross receipts, <br /> quantity of free plays, if any, expenses and <br /> profits for each single gathering or occasion at <br /> which gambling is conducted. All deductions from <br /> gross receipts for each single gathering or <br /> occasion at which gambling is conducted. All <br /> deductions from gross receipts for each single <br /> gathering or occasion shall be documented with <br /> receipts or other records indicating the amount, <br /> a description of the purchased item or service <br /> or other reason for the deduction, and the <br /> a description of the purchased item or service <br /> or other reason for the deduction, and the <br /> recipient. The distribution of profits shall be <br /> itemized as to payee, purpose, amount and date <br /> of payment. <br /> 2. Gross receipts from the operation of lawful <br /> gambling shall be segregated from other revenues <br /> of the organization, and placed in a separate <br /> account. Each organization shall have separate <br /> records of its gambling operations. <br /> 3. Each organization registered to conduct lawful <br /> gambling shall report monthly to its membership, <br /> and to the city council, its gross receipts, <br /> expenses and profits from gambling, and the <br /> distribution of profits itemized as required in <br /> this section. <br /> 4. The city council shall require an annual <br /> financial audit of any organization that conducts <br /> lawful gambling in the City of Falcon Heights at <br /> the organization's expense. The audit shall <br /> include information on all gross receipts, <br /> profits, and expenses incurred by the organization <br /> in the conduct of lawful gambling as well as <br /> 21 <br />