Sec. 4-72. - Profits to be kept in separate fund or account.

All profits derived from a bingo game shall be kept in a special fund or account and shall not be commingled with any other fund or account. With respect to organizations exempted by section 23701(d) of the Revenue and Taxation Code, the profits shall only be used for charitable purposes. With respect to other organizations authorized to conduct bingo games, the proceeds shall only be used for charitable purposes, except that proceeds may be used for prizes, and a portion of the proceeds, not to exceed ten percent (10%) of the proceeds after deduction for prizes, or five hundred dollars ($500.00) per month whichever is less, may be used for rental of property, overhead, and administrative expenses. The permit holder shall keep full and accurate record of the income and expenses received and disbursed in connection with its operation, conduct, promotion, supervision, and any other phase of bingo games which are authorized by this article. The county, by and through its officers, shall have the right to examine and audit such records at any reasonable time and the permit holder shall fully cooperate with the county by making such records available.

(Ord. No. 2472.)