All licensed charities are required to complete a financial report for each charitable gaming licence. They are required to report to the AGLC the financial results of each gaming event, and how they used the resulting charitable gaming proceeds in accordance with their licence.
Proceeds include interest, dividends or other income earned on gaming proceeds deposited in interest-bearing accounts, or held (with AGLC approval) in deposit certificates or investments made by a trustee.
Has your organization's Executive changed?
It is imperative that the AGLC be kept informed of any changes to the elected executive positions in your organization. This way staff can ensure the correct contact person receives important information pertaining to your group’s gaming licences.
You can submit updated contact information with the List of Elected Executive form.
The AGLC mails financial reporting forms for all licenses (except for raffles under $10,000, where the reporting form is included with the licence). The licensed organization is then required to complete and return the financial report within 60 days from the date of mailing.
If an organization wishes to use charitable gaming proceeds for purposes other than those previously approved, they must obtain the approval of the AGLC before spending proceeds for any new purposes. This ensures that the proposed new use of funds is in accordance with the Criminal Code of Canada, AGLC policy, and reflects a use that is charitable or religious in nature.
If gaming proceeds are used for unapproved purposes, the AGLC will investigate. This may initiate an audit, and the licensed organization may be required to redeposit the unapproved expenditures back into their gaming account.
Gaming proceeds must be used within two years after the proceeds are obtained. Any extension of this period must be approved in advance by the AGLC.
For more information refer to the Charitable
Gaming Policies Handbook or the GAIN