Section 24.05. Duties of host licensee in accounting and reporting.

  The host licensee shall do all of the following:

(1)  For purposes of distribution of the wagering pools: breakage pools and minus pools shall be allocated pro-rata based on the percentage of winning dollars wagered at each location for each entry, pool and race, pursuant to s. 562.065 (3) (e) , Stats., and s. Game 8.07 .

(2)  In order to facilitate the transfer of money between host licensees and guest licensees, each host track shall perform a daily reconciliation of their racing accounts and all amounts due to or from guest tracks. The frequency of transfer of monies between host tracks and guest tracks shall be as specified by contract, but shall occur at least weekly. A weekly report of the accounts payable and receivable incurred from intertrack pari-mutuel activity shall be submitted to the division auditor by the host track listing the balance of the host track and all guest tracks that are commingling pools with the host track. The forms used to keep a running balance for each racetrack shall be approved by the division.

Cr. Register, April, 1994, No. 460 , eff. 5-1-94 ; correction in (1) made under s. 13.93 (2m) (b) 7., Stats., Register, March, 1995, No. 471 ; emerg. am. (2), eff. 8-25-95; am. (2), Register, January, 1996, No. 481 , eff. 2-1-96.