Recordkeeping

Records must include and be retained for three years from the end of the quarter in which the activity was reported: 1. For each calcutta: a. A calcutta board with the state gaming stamp affixed indicating the winning competitor and player; b. The starting and ending cash on hand and IOU records according to section 99-01.3-03-06; c. Prize register according to section 99-01.3-03-07 and record of win according to section 99-01.3-03-08; d. Cash profit as defined in subdivision l of subsection 9 of section 99-01.3-02-01; and e. A summary of gross proceeds, prizes, adjusted gross proceeds, cash profit, cash long or short, and bank deposit. The summaries of all calcuttas conducted for a quarter must reconcile to the tax return. 2. Inventory records according to subsection 1 of section 99-01.3-03-09. 3. Ideal cash bank master records according to subsection 4 of section 99-01.3-03-09. 4. Verification of the amount deposited according to a bank statement, and an audit of the game's activity according to subsections 6 and 7 of section 99-01.3-03-10. 5. The count and reconciliation of calcutta boards and cash banks according to subsections 1, 4, and 6 of section 99-01.3-03-09.