SECTION 612:25-6-22. Monthly reports

(a)   Content and when due. Licensed managers must submit monthly business enterprise financial reports to the SLA. Reports will contain data on gross sales, merchandise purchases, payroll expense, business expense and other information determined necessary to reflect business financial status and calculate licensed manager set-aside, retirement and/or merchandise loan payments. The monthly reports shall be for one of the two following time periods: 1) the sixteenth (16^th) day of the previous calendar month to the fifteenth (15^th) day of the current calendar month; or 2) the twenty-first (21^st) day of the previous calendar month to the twentieth (20^th) day of the current calendar month. The licensed manager may choose either period, but must notify the business consultant which option is chosen by September 30^th of each year. The licensed manager shall use the same option throughout the federal fiscal year. Monthly reports are due in the BEP office on or before the 25th of the current calendar month. If the 25^th falls on a weekend, the monthly report is due in the BEP office no later than the close of business on the last business day prior to the 25^th. Monthly reports may be mailed to the BEP office. To be considered on time, they must be postmarked by the 21st of the month for regular mail or the 22^nd for overnight mail. If these dates fall on a day where the post office is closed, they must be postmarked the day before. The BEP shall notify the manager by phone on the first business day following the 25^th if the report is not received. The BEP will review each monthly report for mathematical errors, correct loan payment, correct set-aside payment, approved business expenses, and other factors that will affect the accuracy of the report. The business consultant will sign the report indicating that the report is correct, correct payments are attached (if required), and all items in question have been discussed with the licensed manager.

(b)   Failure to file in a timely manner. If the monthly report is not received in the BEP office within five calendar days after the due date, the licensed manager will be placed on probation. If the 1st and second reports are not received by the time the 3rd report is due, the licensed manager's agreement will be canceled and the BEP licenses will be suspended. Failure to file monthly reports in a timely manner three or more times within any twelve month period will result in formal disciplinary action.

(c)   Fee for reports. The Agency maintains records for its use and may charge a reasonable fee to supply copies of records to individuals. The agency will supply copies of lost reports or other documents at 25 cents per page.

[Source: Added at 14 Ok Reg 1472, eff 7-1-97; Amended at 19 Ok Reg 1838, eff 7-1-02; Amended at 29 Ok Reg 1447, eff 7-1-12; Amended at 31 Ok Reg 2397, eff 9-12-14; Amended at 32 Ok Reg 1312, eff 8-27-15]