Annual Certified Physical Inventory and Cash Count Summary

Lawful gambling organizations are required to conduct an annual certified physical inventory and cash count at the end of their fiscal year even if the organization has no physical inventory. (Minnesota Statute 297E.06, subd. 4) 

When is the inventory and cash count due?

You must conduct the inventory and cash count and submit it to us within 30 days after your organization’s fiscal year ends. Your organization may be eligible for a 30-day extension.

How do I report the inventory?

Two members of your organization (who are not involved in its gambling activities) or a certified public accountant (CPA) must conduct the inventory and cash count. The inventory is a list, by site, of the games in your organization’s possession that you have not reported on a Form G1, Lawful Gambling Monthly Tax Return. The cash count summary is the total cash count for all forms of gambling at each site.

You must report the results on two forms:  

• Form CI, Annual Certified Physical Inventory and Cash Count Summary 
• Form INV, Annual Certified Physical Inventory and Cash Count by Site

How do I request an extension?

You can request a 30-day extension by mail, email, or web message. Your organization’s chief executive officer, gambling manager, or CPA performing the inventory must request the extension before the end of your organization’s fiscal  year.