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OREGON DEPARTMENT O F JUSTICE Raffle Receipt Summary Record Complete this record in non-erasable ink. This record must be maintained with your official raffle records for three (3) years. DO NOT send

How to fill out raffle receipt summary record

How to fill out a raffle receipt summary record:

1. First, gather all the necessary information, such as the event name, date, and location of the raffle. This information should be provided by the organization hosting the raffle.
2. Fill in the header section of the summary record. Include the name of the organization, the raffle's name or title, and the date the raffle took place. Ensure that all the information is accurate and legible.
3. Record the number of raffle tickets sold. This includes both the number of tickets sold in advance and those sold at the event. Make sure to categorize them accordingly and have accurate counts for each.
4. Calculate and record the total amount of money collected from ticket sales. This involves adding up the prices of each ticket sold and any additional donations or contributions received during the raffle.
5. Note down any expenses incurred during the raffle event. This could include costs related to printing tickets, venue rental fees, prizes, and any other associated expenses. Keep a detailed record of the expenses to ensure accuracy.
6. Calculate the net proceeds of the raffle. Subtract the total expenses from the total amount collected to determine the net proceeds, which represent the profit generated from the raffle event.
7. Record any additional information necessary for reporting purposes. This could involve specifying the purpose of the raffle or any specifications required by local regulations.

Who needs a raffle receipt summary record?

1. Non-profit organizations: Non-profit organizations that host raffles as a fundraising method often need to keep a record of all the ticket sales, expenses, and net proceeds generated. This helps maintain transparency and ensures accountability with donors and regulatory bodies.
2. Event organizers: Individuals or groups responsible for organizing raffles for various events, such as charity events, school fundraisers, or community gatherings, may need to fill out a raffle receipt summary record to accurately track the financial aspects of the raffle.
3. Auditors and regulatory bodies: Auditors or regulatory authorities may require the raffle receipt summary record as part of their evaluation process. This is to ensure that the raffle was conducted legally and that the funds were managed properly.

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What is raffle receipt summary record?

The raffle receipt summary record is a document that summarizes the raffle receipts received and issued during a specific period.

Who is required to file raffle receipt summary record?

Non-profit organizations or individuals who conduct raffles and meet specific criteria set by the authorities are required to file raffle receipt summary records.

How to fill out raffle receipt summary record?

The raffle receipt summary record must be filled out by providing all necessary information related to raffle receipts, including the date, amount, purpose, and source of each receipt.

What is the purpose of raffle receipt summary record?

The purpose of the raffle receipt summary record is to maintain accurate records of the financial activities related to raffles and ensure compliance with regulatory requirements.

What information must be reported on raffle receipt summary record?

Information such as the date of receipt, the amount received, the purpose of the receipt, and the source of the receipt must be reported on the raffle receipt summary record.