Section 160.92. Accounting requirements.

 

(1)  All receipts from any source whatsoever shall be deposited in a bank, and all accounts without exception shall be paid by check or draft. All records, papers, stubs, checks, vouchers or other orders relating to fair transactions shall be preserved for a 6-year period subsequent to the year in which they were made or issued.

(2)  Premiums shall be actually paid or bona fide notice of premium awards sent to all premium winners before a claim for state aid may be considered.

(3)  Claims for state aid shall be filed with the department within 30 days after the close of the fair, and shall include:

(a) Judging sheets completed according to instructions contained thereon. All entries shall be in typewritten form with the exception of entries in the winning entry column which may be made with a ballpoint pen or indelible pencil. The total premium awarded on each judging sheet shall be shown at the bottom of each sheet. State aid shall not be paid on judging sheets which are not signed by the judge or accompanied by an affidavit of the judge listing the department and classes judged. A separate affidavit shall be required for each department.

(b) Index of exhibitors and their addresses, with amounts paid in premiums opposite each name. The total of each index sheet shall be shown on the bottom of the sheet, and the total of the index shall correspond with the total of premiums awarded as shown by judging sheets.

(c) One premium book.

(4)  One copy of the annual financial report shall reach the office of the department before the end of the calendar year in which the fair is held. State aid received for the current year shall be included as a receipt in such statement.

(5)  Before submitting its financial report, every fair association, society or board shall have its accounts audited by either a certified public accountant, a county auditor, or an auditing committee. If audited by an auditing committee, at least one of the committee members shall be familiar with the records and procedures. The society or board shall submit to the department at the time the financial report is submitted, a statement of the type of audit conducted including the date and names of those making the audit, or a copy of the audit report.

(6)  A copy of a financial report as published in a newspaper of general circulation in the county in which the fair was held shall be submitted to the department prior to December 31st of the year in which the fair was held. The financial statement shall include all receipts, disbursements, accounts receivable and accounts payable in connection with the operation of the fair, and shall show the financial condition of the fair organization before and after the fair.

Cr. Register, April, 1976, No. 244 , eff. 5-1-76; am. (3) (c), Register, March, 1980, No. 291 , eff. 4-1-80; renum. from Ag 5.08, Register, November, 1990, No. 419 , eff. 12-1-90; r. (3) (c), renum. (3) (d) to be (3) (c), Register, November, 2000, No. 539 , eff. 12-1-00.