Wisconsin Statutes 563.64 – Bookkeeping and accounts
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Terms Used In Wisconsin Statutes 563.64
- Bingo: as used in this chapter shall not mean any game using free cards and donated prizes, if any, for which no payment of consideration is made by participants. See Wisconsin Statutes 563.03
- Calendar: means a table or register of days covering not less than one nor more than 12 calendar months that entitles the purchaser to one entry in each drawing in a calendar raffle. See Wisconsin Statutes 563.03
- Department: means the department of administration. See Wisconsin Statutes 563.03
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Licensed organization: means an organization licensed under this chapter to conduct bingo. See Wisconsin Statutes 563.03
(1) Each licensed organization shall maintain a single entry or double entry bookkeeping system for the purpose of recording all receipts and expenditures in connection with the conduct of bingo and the disbursement of profits derived therefrom. Such bookkeeping system shall consist of a columnar book maintained on a calendar or fiscal year basis.
(2) The columnar book, deposit books, canceled checks, records of share drafts, check books, records of share accounts, records of negotiable orders of withdrawal, deposit slips, bank statements and copies of financial statements of bingo operations and all other books and accounts shall be maintained for not less than 4 years and shall be available at reasonable times for examination by the department or its authorized representative. The department may require the licensed organization to obtain microfilm copies of share drafts to the extent necessary for examination purposes. All documents supporting the entries made in the books of accounts shall be kept by the licensed organization for a period of not less than 4 years. Such documents shall include, but are not limited to, bank statements, canceled checks, records of share drafts, deposit slips and invoices for all expenditures.