§ 2-17-130. Election financial records.

(a)

Candidates for elective office or treasurers for political committees shall keep financial records for a period of six (6) months following the date of election, in order that the records will be available if a complaint is filed or inquiry is made. Such financial records shall include cancelled checks, invoices, receipts, bank statements, bills of sale, statements of account, and all other financial records pertinent to the campaign.

(b)

In preparing and maintaining financial records such as ledgers and journals and recording contributions and expenditures on the disclosure statement of campaign financing, the candidates or treasurers of political committees shall:

(1)

Record in-kind contributions as both contributions and expenditures with a description of such in-kind services or goods received;

(2)

Record campaign loans as contributions, with subsequent repayment of loans credited against contributions; and

(3)

Record returned contributions as credits against contributors.

(c)

The services of a person who is performing the duties of treasurer pursuant to the campaign disclosure code shall not be considered a campaign contribution as defined in this section.

(d)

The gross receipts of a fundraising activity on behalf of a candidate for elective office are considered to be campaign contributions, and all expenditures associated with such a fundraising activity are considered to be campaign expenditures. As used in this interpretation, the term "gross receipts" includes all monies and donations of any kind which are received as part of the fundraising activity.

(e)

The city clerk, upon being advised of the formation and existence of a special political committee, as defined in this article, shall furnish by mail to the chairman, moderator, or head, however designated, of such committee, and also the fundraising member thereof, however designated, if known, a copy of the campaign disclosure code and campaign practices, and shall call attention to the requirements for reporting contributions and expenditures by the political committee as provided for in this section. Within ten (10) days from receipt of the notification from the city, the political committee shall prepare and file with the office of the city clerk a statement, signed by the head of the committee or by the finance chairman thereof, setting forth the following:

(1)

The exact name of the committee;

(2)

Its official address and phone number, if available;

(3)

Its membership and officials thereof; and

(4)

Acknowledgment of receipt of a copy of the campaign disclosure code and of the requirements regarding filing of reports.

(Ord. No. 1466, § 1, 4-22-14)