10A ncac 63c .0604       REPORTS

The operator shall have four options for reporting revenues and expenses:

(1)           Category A - The operator may send all invoices, deposit slips, repair bills, and other documents to the Division including overcash according to a schedule established by the Division's Accounting Office. All payroll functions shall be performed by the Division.

(2)           Category B - The operator may retain sales and deposit documentation and send a summation of his purchases for resale and all expenses paid out of the facility to the Division monthly along with overcash.  All payroll functions shall be performed by the Division.

(3)           Category C - The operator may perform all functions as in Item (2) of this Rule and perform his own payroll functions.

(4)           Category D - The operator may perform all functions of Items (2) and (3) of this Rule and may calculate its own profit and loss statement and send only the set-aside due to the Division.

 

History Note:        Authority G.S. 111‑27; 143B-157; 34 C.F.R. 395; 20 U.S.C. Sec. 107;

Eff. February 1, 1976;

Amended Eff. August 1, 1976;

Readopted Eff. November 16, 1977;

Amended Eff. August 1, 2002; May 1, 1996; February 1, 1996; February 1, 1984; October 1, 1978.