PERMANENT RULES
Effective Date of Rule: July 1, 2008.
Purpose: Expedited adoption to fix incorrect citations to other rules and remove a rule that is duplicated.
Citation of Existing Rules Affected by this Order: Repealing WAC 230-10-455; and amending WAC 230-07-150 and 230-17-125.
Statutory Authority for Adoption: RCW 9.46.070 and 34.05.353.
Adopted under notice filed as WSR 08-06-036 on February 27, 2008, and published March 19, 2008.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 2, Repealed 1.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 2, Repealed 1.
Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 2, Repealed 1.
Date Adopted: May 14, 2008.
Susan Arland
Rules Coordinator
OTS-1355.1
AMENDATORY SECTION(Amending Order 609, filed 4/24/07,
effective 1/1/08)
WAC 230-07-150
Financial statements required for Groups
III, IV, and V.
(1) In addition to information required in
WAC ((230-07-028)) 230-07-145, charitable or nonprofit
licensees in Groups III, IV, and V must also submit complete
financial statements prepared in accordance with generally
accepted accounting principles (GAAP).
(2) Licensees in Groups IV and V must have the financial statements prepared by an independent certified public accountant.
(3) The statements and all required disclosures or footnotes no later than one hundred twenty days following the end of the licensee's fiscal year.
(4) The financial statements must include:
(a) A statement of financial position;
(b) A statement of activities. This statement may be presented in a consolidated form if licensees provide the details of each component as supplemental information. Licensees must present revenue and expenses for each activity separately as follows:
(i) Each gambling activity; and
(ii) Retail sales conducted in conjunction with gambling activities;
(c) A statement of cash flows;
(d) A statement of functional expenses;
(e) In addition to all disclosures required by GAAP, the financial statements must disclose the following:
(i) Loans to or from officers, board members, and employees: We will not consider employee salary advances of five hundred dollars or less as loans. Details of all terms, including interest rates and payment schedules, must be disclosed;
(ii) All civil penalties, fines, bribes, or embezzlements incurred or discovered during the period; and
(iii) An explanation of any adjustments made to prior period capital accounts or net asset balances;
(f) An explanation of material differences between amounts reported on gambling activity reports and the financial statements.
(5) We may require additional information to ensure completeness of the information reported.
(6) We may grant an organization additional time to submit the information required if a written request is received before the due date. The president of the organization must sign any request for additional time and include a statement explaining the hardship causing the delay, and the expected date the required report(s) will be submitted.
[Statutory Authority: RCW 9.46.070. 07-10-032 (Order 609), § 230-07-150, filed 4/24/07, effective 1/1/08.]
OTS-1357.1
AMENDATORY SECTION(Amending Order 615, filed 10/24/07,
effective 1/1/08)
WAC 230-17-125
Noncompliance with rules on expert
witnesses or written statements.
If expert witnesses or
written statements on economic or statistical data do not meet
the requirements of WAC ((230-17-650)) 230-17-115 or
((230-17-660)) 230-17-120, the presiding officer may receive
them as evidence only if the party can clearly show good
cause.
[Statutory Authority: RCW 9.46.070. 07-21-156 (Order 615), § 230-17-125, filed 10/24/07, effective 1/1/08.]
OTS-9950.1
REPEALER
The following section of the Washington Administrative Code is repealed:
| WAC 230-10-455 | Operating linked bingo prize games. |