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Section 3-186. <br /> <br />Auditing of records and reports - <br />Generally. <br /> <br /> (e) Any organization having annual gross receipts <br />from bingo games or raffles in excess of two hundred fifty <br />thousand dcllars ($250,000.00) as shown on its annual <br />financial report, shall attach to such report an opinion <br />executed by a licensed independent certified public <br />accountant that: <br /> <br />(1) <br /> <br />The annual financial report presents fairly, <br />in all material respects, beginning cash, <br />receipts, operating cost, use of proceeds, <br />and ending cash; <br /> <br />{2) <br /> <br />The proceeds of any bingo games or raffles <br />have been used, in all material respects, <br />for those lawful religious; charitable, <br />community or educational purposes for which <br />the organization is specifically chartered <br />or organized; and <br /> <br />(3) <br /> <br />The gross receipts have been used in all <br />material respects in accordance with the <br />provisions of this article. <br /> <br /> The failure to file the opinion of a licensed <br />independent certified public accountant~ when required~ <br />shall cause the automatic revocation of the permit and no <br />organization shall conduct any bingo game or raffle <br />thereafter until the opinion required by this subsection is <br />properly filed with the report and a new permit is <br />obtained. The opinion required by this section is in <br />addition to the audit and audit fee required by sections <br />3-186 and 3-187. <br /> <br />Section 3-187. Same-Fee. <br /> <br /> ~ audit fee payable to the director of finance shall <br />accompany each annual report filed by an organization under <br />this article and shall be one (1) percent of the gross <br />receipts which the organization reports and interest income <br />on money the organization has received from bingo, instant <br />bingo or raffles. All audit fees received shall be <br />separately accounted for and shall be used only for the <br />purpose of auditing and regulating bingo games and raffles. <br />Any report filed by an organization with gross receipts of <br />less than two thousand dollars ($2,000.00) for the <br />designated reporting period shall be exempt from the audit <br />requirement. All reports shall be a matter of public <br />record. <br /> <br /> <br />