Section 99-01.3-15-03 - Inventory records and reconciliation1. A distributor shall maintain a quantity-based perpetual inventory system for deals of pull tabs, club specials, tip boards, prize boards, and punchboards that are bought or received from any source. A system must account for the sale or disposition of each item. The system must separately account for the quantity of items acquired, sold, and remaining in inventory by: a. Name of manufacturer or other source, and purchase invoice number and date; b. Name of game and manufacturer's game form number, excluding deals of jar tickets; and c. Distributor's sales invoice number and date. 2. A distributor shall maintain a quantity-based perpetual inventory system for paper bingo cards that are bought or received from any source. A system must account for the sale and disposition of each card. The system must separately account for the quantity of cards acquired, sold, and remaining in inventory by: a. Name of manufacturer or source, and supplier's sales invoice number and date; b. Type of card or booklet; c. Primary color of card; e. Quantity received; and f. Distributor's sales invoice number and date. 3. A distributor shall semiannually reconcile its inventory of deals of pull tabs, paper bingo cards, club specials, prize boards, tip boards, and punchboards that are recorded as being in inventory to these items that are actually in inventory. A person shall count these items in inventory, compare this count to the inventory records, and resolve any difference. The count must be done by a person who is not primarily responsible for safeguarding the physical inventory. A reconciliation must be documented, including the name and title of the person who does the reconciliation, date performed, result, corrective action taken, and initials of that person. N.D. Admin Code 99-01.3-15-03
Effective May 1, 1998; amended effective July 1, 2002; July 1, 2010; July 1, 2012.General Authority: NDCC 53-06.1-01.1
Law Implemented: NDCC 53-06.1-01.1