Section 481.106.8. Records.

The licensee shall keep a journal of the following for each tournament: date of the tournament, amount of gross receipts, amount given out as prizes, expenses, amount collected for taxes, and the amount collected as revenue.

       106.8(1) Tournament records shall be maintained separately from all other records and shall be kept current.

       106.8(2) A record of prizes awarded for each tournament shall contain the following information:

        a.           Date of the tournament;

        b.           Number of people who played, including a breakdown by members and guests;

        c.           Name and description of each card game played;

        d.           Name, address, and social security number of each winner;

        e.           Type of each prize (i.e., merchandise or cash) and the value of each prize.

       106.8(3) Records shall be maintained by the licensee for three years for review by the department.

       106.8(4) The licensee shall certify that the receipts of all tournaments, less reasonable expenses, charges, fees, taxes, and deductions, will either be distributed as prizes to participants or will be dedicated and distributed to educational, civic, public, charitable, patriotic, or religious uses.

       106.8(5) Records of expenses and dedicated and distributed money are required. A book may be maintained which contains both, provided that expense information is separate and distinct from information about dedicated and distributed money. Each subject shall be in a clearly labeled section.

        a.           The name, address, date, purpose and amount dedicated to another person or organization shall be available for review.

        b.           If dedicated funds are used by the licensee, the date, purpose and amount must be recorded.

        c.           Receipts used for expenses shall be recorded. The record must show:

       (1)             The date;

       (2)             The amount;

       (3)             The purpose; and

       (4)             To whom paid.

        d.           Invoices or bills for expenses must be maintained. Advertising copy and invoices must be retained for verification.

       106.8(6) A compensation record for each member who is compensated for work at a tournament shall be maintained. Each record must show:

        a.           The name, address, and social security number of the member;

        b.           Dates of employment;

        c.           Times and number of hours worked;

        d.           Wages paid;

        e.           Amounts withheld;

        f.            Check number; and

        g.           Description of work completed.

In addition, the record must specifically identify for which card game tournament a member was compensated. Compensation is anything of value given to a member in exchange for services rendered in connection with a tournament. Compensation to members for services rendered shall be reasonable for the amount of time worked and the work completed. To determine reasonableness, the department shall use the minimum wage and the Iowa wage data of the U.S. Department of Labor, Bureau of Labor Statistics. Compensation records shall be maintained by the licensee for three years for review by the department.