CHAPTER 7 Campaign Disclosure Information and Political Reform Act
Committee Treasurer and Principal Officer Under California's Political Reform Act, every committee must have a treasurer before the committee may accept contributions or make expenditures. Although there are no restrictions on who may be a treasurer, in order to adequately perform the duties, the treasurer must understand the campaign finance laws and his or her responsibilities under the Act. The candidate controlling the committee may be the treasurer or assistant treasurer for his or her own committee. No individual should accept the position of a committee treasurer as a mere figurehead. Contributions may not be accepted and expenditures may not be made if the treasurer’s post is vacant at any time, even if the committee has an assistant treasurer. If the treasurer is unavailable to carry out his or her duties, a new treasurer must be designated and the committee’s Statement of Organization (Form 410) must be amended. The individual listed on the most recent Form 410 filed with the Secretary of State continues to be liable until an amendment is filed to designate a new treasurer. The committee treasurer or assistant treasurer must sign and verify all reports and statements filed. The verification is signed under penalty of perjury and indicates that: • The signer has used all reasonable diligence in preparing the statement; and • To the best of his or her knowledge, the statement is both true and complete. The signer is legally responsible for the accuracy and completeness of the document, even if it is prepared by a third party, including a professional accountant. An unsigned statement is considered “not filed” and is subject to late fines. Treasurer Responsibilities A committee treasurer is required to: • Establish a system of recordkeeping sufficient to ensure that contributions and expenditures are recorded promptly and accurately in compliance with the Act’s recordkeeping and disclosure requirements. (Following the recordkeeping guidelines in this manual ordinarily constitutes compliance with this requirement.)
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