N.Y. Comp. Codes R. & Regs. tit. 9 § 4101.10

Current through Register Vol. 46, No. 50, December 11, 2024

Section 4101.10 - Financial reports of tracks

(a) The following financial reports must be submitted to the commission at the close of each licensed harness racing meet and at the close of the licensee's fiscal year:

(1) statement of assets and liabilities;

(2) statement of profit and loss and surplus; and

(3) affidavit forms.

(b) Interim reports must be submitted to the commission and must include all operations for the current period up to and including the last day of the meet. These interim reports must be filed with the commission within 30 days after the close of the meeting.

(c) A licensee having more than one licensed meet during the year will prepare a separate report after the close of each meet. Annual reports are to include all operations for the licensee's calendar or fiscal year and must be filed with the commission within 75 days after the end of the calendar or fiscal year. All reports must be verified under oath by:

(1) at least two of the licensee's principal officers, if the licensee be an association or corporation having officers, and by one or more owners or proprietors thereof if not an association or corporation having officers; and

(2) by persons preparing the reports.

(d) Separate records of each bank reconciliation must be maintained by the licensee in a manner which will clearly indicate all reconciling items between the balance per the bank statement and the balance per the licensee's books at the date of reconciliation.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 4101.10