Section 285.805.4. Submittal of fair's cash receipts and disbursement statement; records maintenance.

(1) Within 120 days after the close of a fair,  an  association shall submit, to the department, unless notified otherwise, the fair's cash receipts and disbursement statement  with all eligible  expenses summarized in the following categories:

(a)   Equipment rental during the fair.

(b)   Grounds improvement.

(c)   ) Capital improvements.

(d)  Maintenance and repair.

(e)   ) Racetrack maintenance and repair.

(2)  All transactions posted to the accounts specified in subrule (1) of this rule shall be substantiated  by  adequate   detailed   documentation, including the following:

(a)  ) Cancelled checks.

(b)   Original, itemized invoices that pertain to the materials and services claimed, including copies of contracts, where applicable.

(c)   ) Proof that  all  state and  local  ordinances   were   followed,   if applicable.

(3)   If all funds are not utilized in eligible categories, unused  funds shall be repaid to the department before any other payments for state programs are made by the department.

(4)   For state auditing purposes, an association shall  keep  all    records for not less than 4 years, and all records shall be made available at the time of audit. The audit will include an analysis of rentals. Once the cost of purchase and maintenance is exceeded, future rental payments  will be disallowed.

History: 1979 AC; 1984 AACS; 1992 AACS.