(230 ILCS 15/6)
(from Ch. 85, par. 2306)
Records.) (a) Each organization licensed to conduct raffles and
chances shall keep records of its gross receipts, expenses and net proceeds
for each single gathering or occasion at which winning chances are determined.
All deductions from gross receipts for each single gathering or occasion
shall be documented with receipts or other records indicating the amount,
a description of the purchased item or service or other reason for the deduction,
and the recipient. The distribution of net proceeds shall be itemized as
to payee, purpose, amount and date of payment.
(b) Gross receipts from the operation of raffles programs shall be segregated
from other revenues of the organization, including bingo gross receipts,
if bingo games are also conducted by the same nonprofit organization pursuant
to license therefor issued by the Department of Revenue of the State of
Illinois, and placed in a separate account. Each organization shall have
separate records of its raffles. The person who accounts for gross receipts,
expenses and net proceeds from the operation of raffles shall not be the
same person who accounts for other revenues of the organization.
(c) Each organization licensed to conduct raffles shall report promptly
after the conclusion of each raffle
to its membership, and to the licensing local unit of government, its gross
receipts, expenses and net proceeds from raffles, and the distribution of
net proceeds itemized as required in this Section.
(d) Records required by this Section shall be preserved for 3 years, and
organizations shall make available their records relating to operation of
raffles for public inspection at reasonable times and places.
(Source: P.A. 82-711.)