What recordkeeping procedures are required for political campaign committees?
A PAC is prohibited from commingling personal monies or any other funds with funds maintained in a campaign bank account. Within ten (10) business days of the receipt of a campaign contribution, a political campaign committee is required to deposit the contribution into the PACs campaign bank account. For contributions received from a single source during a reporting period which total more than $100, a committee is required to maintain a listing of the names and addresses of those contributors and the amount and date of the contributions made by those contributors. Additionally, political campaign committees must maintain copies of all checks, bank statements and vendor receipts for a period of two years after the election to which they refer. When feasible, a committee should make copies of campaign contribution checks. Campaign bank account reconciliations must be performed by a PAC to ensure that the bank account balances with the financial disclosure reports filed by the committee
Related Questions
- What guidelines will the Registry of Election Finance provide to candidates and political campaign committees regarding the Campaign Financial Disclosure Law?
- Are there recordkeeping procedures established by the Registry, which must be used by political campaign committees?
- What recordkeeping procedures are required for political campaign committees?
