§ 4-29.5-4-11 — Accounting requirements

Indiana § 4-29.5-4-11

• Jurisdiction: Indiana
• Art. 29.5: TRIBAL-STATE COMPACT WITH THE
• Ch. 4: Administration and Regulation of Class III Gaming

Text

All accounting and financial activities for
Class III gaming under this Compact shall conform to industry
standards and generally accepted accounting principles (GAAP).
Accounting records shall be kept on a double entry system of
accounting, maintaining detailed, supporting, subsidiary records. The
Band shall maintain the following records for not less than three (3)
years:
(1) Revenues, expenses, assets, liabilities, and equity for the
location at which Class III gaming is conducted;
(2) Daily cash transactions for each Class III gaming activity at
each Class III gaming operations, including but not limited to
transactions relating to each gaming table bank, game drop box,
and gaming room bank;
(3) All markers, IOUs, returned checks, hold checks, or other
similar credit instruments;
(4) Individual and statistical game records (except for card
games) to reflect statistical drop and statistical win; for electronic,
computer, or other technologically assisted games, analytic
reports which show the total amount of cash wagered and the total
amount of prizes won;
(5) Contracts, correspondence, and other transaction documents
relating to all vendors and contractors;
(6) Records of all gaming enforcement activities;
(7) Audits prepared by or on behalf of the Band; and
(8) Personnel information on all Gaming Officials and
Employees, including rotation sheets, hours worked, employee
profiles, and background checks.

Legislative History

As added by P.L.171-2021, SEC.1.