Lottery licensees are required to deposit proceeds derived from lottery events into an account designated as a trust account by the financial institution in which it is held.

Designated Lottery Trust Accounts

Licensed organizations are required to have a Canadian dollar trust account(s) for lottery proceeds. Organizations have the option of opening a trust account for each type of lottery event or consolidating trust accounts as follows:

  • An account for proceeds derived from lottery events licensed by the Registrar of Alcohol, Gaming and Racing other than break open tickets (Provincially-issued licences); and
  • An account for proceeds derived from break open ticket lottery events licensed by the Registrar (Provincially-issued licences).

Organizations that are permitted to accept American currency must also maintain a separate trust account for lottery proceeds in American dollars.

The Terms and Conditions for each type of lottery event set out specific accounting requirements for journals, monthly summaries and bank reconciliation.

For more information about Trust Accounts, please refer to:

Consolidated Designated Trust Accounts

A Hall Charities Association representing licensees conducting Charitable Gaming Events in a bingo hall where proceeds are pooled are required to have a Canadian dollar Consolidated Designated Trust Account. Lottery proceeds raised from all charitable gaming events conducted must be deposited into this account.

Organizations that are permitted to accept American currency must also maintain a separate Consolidated Designated Trust Account for lottery proceeds in American dollars.

Member organizations of a Hall Charities Association are required to have Designated Lottery Trust Accounts.

The Registrar´s Standards – Financial Management and Administration for Bingo Halls where Proceeds are Pooled set out specific accounting requirements for books, records, journals, ledgers, monthly summaries and bank reconciliations.

For more information about Trust Accounts, please refer to the AGCO’s Lottery Licensing Policy Manual or to the Registrar´s Standards – Financial Management and Administration for Bingo Halls where Proceeds are Pooled.

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