• Transferring Assets: It is not necessary to value and attribute a committee’s usual assets (such as supplies, furnishings, and office equipment) that are being transferred from one controlled committee to another of the candidate’s controlled committees. A committee must report the purchase or sale of these assets, but need not report the transfer.
Detailed reports must be maintained on transfers.
C. Post-Election Fundraising: Net Debts Outstanding (AB 571) City and county candidates in cities and counties that have not already enacted a contribution limit may receive contributions after an election only to pay net debts outstanding from the election. The primary and general elections are separate elections for the purposes of calculating net debt. In addition, the contribution limits applicable to the election apply to any new contributions received to pay net debt.
To calculate net debts outstanding, the following are added together:
• The total amount of unpaid debts, loans, and accrued expenditures incurred with respect to the election; • An amount necessary to cover the cost of raising funds to pay outstanding debts; • Costs related to complying with post-election requirements, such as filing campaign statements, and other necessary administrative costs associated with winding down the campaign, including office space rental, staff salaries, and office supplies; and • Legal fees and expenses incurred in connection with monitoring a ballot recount or the counting of absentee or provisional ballots.
Fair Political Practices Commission advice@fppc.ca.gov
Chapter 1.11
Campaign Manual 2 August 2023 Page 116
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