FEBRUARY BOOSTER CLUB GAMBLING MEETING
Date: February 8, 2017
Present: Geno Rajtar, Kara Sweere, Matt Fink, Dan Godfrey and Steve Fink
- Secretary Report was given by Geno Rajtar
Matt Fink motioned to approve and Dan Godfrey 2nd the motion to approve the minutes. Motion passes.
- Treasurer Report given by Geno Rajtar
- 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)
- 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),
- 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:
- 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.
- 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.
- 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