Title of Rule and Other Identifying Information: WAC 230-10-455 Operating linked bingo prize games, 230-07-150
Financial statements required for Groups III, IV and V, and
230-17-125 Noncompliance with rules on expert witnesses or
THIS RULE IS BEING PROPOSED UNDER AN EXPEDITED RULE-MAKING PROCESS THAT WILL ELIMINATE THE NEED FOR THE AGENCY TO HOLD PUBLIC HEARINGS, PREPARE A SMALL BUSINESS ECONOMIC IMPACT STATEMENT, OR PROVIDE RESPONSES TO THE CRITERIA FOR A SIGNIFICANT LEGISLATIVE RULE. IF YOU OBJECT TO THIS USE OF THE EXPEDITED RULE-MAKING PROCESS, YOU MUST EXPRESS YOUR OBJECTIONS IN WRITING AND THEY MUST BE SENT TO Susan Arland, Washington State Gambling Commission, P.O. Box 42400, Olympia, WA 98504 , AND RECEIVED BY May 6, 2008.
Purpose of the Proposal and Its Anticipated Effects, Including Any Changes in Existing Rules: This filing is to fix incorrect citations to other rules and to remove a rule that is duplicated.
Reasons Supporting Proposal: See above.
Statutory Authority for Adoption: RCW 9.46.070.
Statute Being Implemented: Not applicable.
Name of Proponent: Washington state gambling commission, governmental.
Name of Agency Personnel Responsible for Drafting: Susan Arland, Rules Coordinator, Lacey, (360) 486-3466; Implementation: Rick Day, Director, Lacey, (360) 486-3446; and Enforcement: Mark Harris, Assistant Director, Lacey, (360) 486-3579.
February 27, 2008
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.]
The following section of the Washington Administrative Code is repealed:
|WAC 230-10-455||Operating linked bingo prize games.|
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
[Statutory Authority: RCW 9.46.070. 07-21-156 (Order 615), § 230-17-125, filed 10/24/07, effective 1/1/08.]