postgresql 8.01, plpgsql

i have the following function in plpgsql giving stynax errors all over
the place.
i have doen createlang on the db, as far as i can see i'm right. is
there anything obviously wrong?
one thing to note is i followed this example
http://www.zigo.dhs.org/postgresql/#insert_or_update and it gives the
same errors.

"ERROR: unterminated dollar-quoted string at or near "$$
BEGIN
LOOP"

CREATE OR REPLACE FUNCTION insert_update_daily_takings (ID BIGINT,
TillName VARCHAR,
Tape NUMERIC(10,2),
Cash NUMERIC(10,2),
GM NUMERIC(10,2),
VenueManager
NUMERIC(10,2),
AsstManager
NUMERIC(10,2),
BarManager
NUMERIC(10,2),
PRCards
NUMERIC(10,2),
otherPromo
NUMERIC(10,2),
Functions
NUMERIC(10,2),
Accounts
NUMERIC(10,2),
Spill NUMERIC(10,2),
Orings
NUMERIC(10,2),
Variance
NUMERIC(10,2)
) RETURNS VOID AS
$$
BEGIN
LOOP
UPDATE daily_takings SET till_name = TillName,
tape = Tape,
cash = Cash,
promo_manager = GM,
venue_manager = VenueManager,
asst_manager = AsstManager,
bar_manager = BarManager,
pr_cards = PRCards,
other_promo = otherPromo,
functions = Functions,
accounts = Accounts,
spill = Spill,
o_rings = Orings,
variance = Variance
WHERE id = ID
AND till_name = TillName;
IF found THEN
RETURN;
END IF;

BEGIN
INSERT INTO daily_takings (id,
till_name,
tape,
cash,
promo_manager,
venue_manager,
asst_manager,
bar_manager,
pr_cards,
other_promo,
functions,
accounts,
spill,
o_rings,
variance)
VALUES (ID,
TillName,
Tape,
Cash,
GM,
VenueManager,
AsstManager,
BarManager,
PRCards,
otherPromo,
Functions,
Accounts,
Spill,
Orings,
Variance);
RETURN;
EXCEPTION WHEN unique_violation THEN
NULL
END;
END LOOP;
END;
$$
LANGUAGE plpgsql;