Mich. Admin. Code R. 285.805.4

Current through Vol. 24-22, December 15, 2024

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

Rule 4.

(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.

Mich. Admin. Code R. 285.805.4

1979 AC; 1984 AACS; 1992 AACS