FEBRUARY BOOSTER CLUB GAMBLING MEETING

 

Date:  February 8, 2017

 

Present:  Geno Rajtar, Kara Sweere, Matt Fink, Dan Godfrey and Steve Fink

 

  1. Secretary Report was given by Geno Rajtar

Matt Fink motioned to approve and Dan Godfrey 2nd the motion to approve the minutes. Motion passes.

 

  1. Treasurer Report given by Geno Rajtar
  2. Lawful Gambling: Including Schedule A (Gross receipts=$42,004, Prizes paid=$34,400, Net ​receipts=$7,604), B2, C, and F (Bank acct was reconciled, Profit carryover for month=$12,605.94)

 

  1. Allowable Expenses: Rent-Big Dog-$1520.80; M. Peters Enterprise-$818.37 (games $312.74 + supplies $86.98, repairs=261.09); Geno Rajtar-$280.32 (Mileage-$85.32 (158 miles x $.54) Contract payment-$195),

 

  1. Lawful Purpose Expenditures: City of North Mankato-taxes $735.89, State of MN taxes-$738.00, $5000 Donation to Loyola.

Kara Sweere moved to pay the above bills and was 2nd by Dan Godfrey.  Motion passes.

 

III. Correspondence and other documents:

  1. IRS letter stating we have $396 on credit for our October 31, 2015 return. We no longer submit in October as our end of year is June 30. Kara called the IRS on 2/7/17 and requested refund. There was also a credit of $16.14 on the 2014 taxes that we requested refund on.
  2. MN revenue letter stating that we have a credit on our UBIT of $600. The accountant was emailed regarding this. He stated that nothing needs to be done and we will get refund.
  3. MN Gambling board letter stating that we are up for a review and included documentation that we will need to provide to our reviewer.

 

Dan Godfrey motioned to adjourn the meeting, 2nd by Kara Sweere.  Motion approved to adjourn at 6:15 pm