563.66 Financial report to membership.

130 words·~1 min read·/wi/chapter-563/563-66-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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.