Kan. Admin. Regs. § 112-3-12

Current through Register Vol. 43, No. 49, December 5, 2024

Section 112-3-12 - Management of racetrack facility

Each application for an organization license or a facility manager license in which the applicant proposes to manage a racetrack facility shall contain the following information:

(a) The application shall include:

(1) The applicant's management plan;

(2) the functions, job description and required qualifications of management personnel; and

(3) an organization chart.

(b) The application shall list management personnel with the following information:

(1) Legal name, any aliases and any previous names;

(2) current residences, business addresses and telephone numbers;

(3) any qualification and experience in the following areas:

(A) General business;

(B) real estate development;

(C) construction;

(D) marketing, promotion, and advertising;

(E) finance and accounting;

(F) security; and

(G) human health and safety and animal health and safety;

(4) a description of the terms of employment. A copy of each contract, agreement or a statement of any oral agreement identified in this section shall be attached to the application; and

(5) personal background disclosure forms executed and verified by each of the individuals identified in this section shall be attached to the application.

(c) The application shall identify consultants and other contractors who have provided or will provide management related services to the applicant, to the extent known, and provide the following information for each service provider:

(1) The full name;

(2) the current address and telephone number;

(3) the nature of the services;

(4) any qualifications and experience; and

(5) a description of the terms and conditions of any contractor's agreement or contract. A copy of each agreement and contract or a statement of any oral agreement identified in this section shall be attached to the application.

(d) The application shall describe the applicant's marketing, promotion and advertising plans for:

(1) The pre-opening; and

(2) the first race meeting.

(e) The application shall describe the applicant's plan for any concessions, including but not limited to food, beverage and other products. The owner and operator of concessions shall be identified. A copy of the contract or agreement or a statement of any oral agreement for each party identified in subsection (e) shall be attached to the application.

(f) The application shall include a schedule of rates charged for the performance of any service or for the sale of any article on the premises of the facility, whether directly or through a concessionaire.

(g) The application shall state the plan for pre-opening and continuing training for the applicant's personnel.

(h) The application shall include projected balance sheets by an independent certified public accountant that, for the end of the development or improvement period and for each of the first five years of racing, state current, fixed, and other noncurrent assets, current and long-term liabilities and capital accounts, including the accountant's review report of financial and cash flow projections based on, among others, the following assumptions, including support for the assumptions:

(1) The average daily attendance;

(2) the number of admissions to the track, including ticket prices and free admissions;

(3) any parking fees and revenues;

(4) any concessions and program sales including the schedule of charges;

(5) any fees or other rates charged on the premises of the facility not otherwise identified;

(6) any sales tax;

(7) any personal property tax;

(8) any real estate tax;

(9) any special assessments;

(10) any payroll;

(11) any operating supplies and services;

(12) any utilities;

(13) any repairs and maintenance;

(14) any equipment depreciation, stating the method of depreciation used;

(15) any facility depreciation, stating the method of depreciation used;

(16) any insurance;

(17) any travel expense;

(18) any membership expense;

(19) any security expense;

(20) any legal and audit expense;

(21) any debt service;

(22) any state and federal tax;

(23) any stall and kennel rent;

(24) any advertising and promotion; and

(25) any interest expense; and any other assumptions of financial and cash flow projections.

(i) The application shall include an information sheet detailing the background of the independent certified public accountant who provided the financial projections requested in subsection (h).

(j) The application shall state whether the applicant, any officers, directors and principal stockholders have complied with and are in compliance with K.S.A. 1987 Supp. 74-8810.

(k) This regulation shall take effect on and after October 1, 1988.

Kan. Admin. Regs. § 112-3-12

Authorized by K.S.A. 1987 Supp. 74-8804; implementing K.S.A. 1987 Supp. 74-8813; 74-8814 and 74-8815; effective, T-89-6, Jan. 21, 1988; effective Oct. 1, 1988.