Wisconsin Statutes 563.66 – Financial report to membership
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 563.66
- 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
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Gross receipts: means total receipts received from the conduct of bingo including, but not limited to, receipts from the sale, rental or use of regular bingo cards, extra regular cards, special bingo cards and bingo supplies. See Wisconsin Statutes 563.03
- in writing: includes any representation of words, letters, symbols or figures. See Wisconsin Statutes 990.01
- Licensed organization: means an organization licensed under this chapter to conduct bingo. See Wisconsin Statutes 563.03
- Profit: means the gross receipts collected from one or more bingo occasions, less reasonable sums necessarily and actually expended for bingo supplies and equipment, prizes, utilities, license fees and taxes. See Wisconsin Statutes 563.03
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(1) At least once a year, each licensed organization shall report the following information in writing to its membership regarding the bingo occasions which it has conducted:
(a) The number of bingo occasions conducted.
(b) The gross receipts.
(c) The amount of prizes paid.
(d) The net profit or loss.
(e) The disposition of profits.
(f) Any interest earned on profits deposited in interest-bearing accounts.
(g) A summary of expenses incurred.
(2) The information reported under sub. (1) shall be incorporated into the minutes or records of each licensed organization. If a licensed organization is an auxiliary or affiliate of a parent organization, a copy of the written report shall be filed with the executive officer of the parent organization and incorporated into its minutes.