Loans Received If the contribution is a loan of $25 or more, in addition to the above information for monetary contributions, the following information must be recorded: • Interest rate of the loan, if any; • Due date of the loan, if any; and • Name and street address of any guarantor and the amount guaranteed, if any. The occupation and employer of any individual who guarantees a loan of $100 or more must also be recorded. If a candidate receives a loan from a commercial lending institution for their campaign, the institution is reported as the source of the loan. The candidate does not have to be reported as the guarantor, even if they are personally liable. Documentation for Contributions Received and Other Receipts The committee must keep copies of all documents reflecting deposits made and all records reflecting campaign bank account balances, such as bank statements, check registers, and passbooks. The following documents produced or received by the committee also must be kept for receipts of $25 or more: copies of contributor checks; contributor cards; letters of transmittal; notices received from contributors; memoranda or other records that describe the method used to determine the fair market value of donated goods or services (nonmonetary contributions); and loan agreements or other documents that reflect indebtedness. Documentation for electronic transactions must include information collected when debiting the contributor’s account, such as itemized transaction reports (including the credit card confirmation number), debit/credit account transaction records, and credit card receipts, or vouchers. Documentation of contributions received over the Internet must include a record of the transaction created and transmitted by the cardholder including the cardholder’s name, street address and the last four digits of the card number.
Fair Political Practices Commission advice@fppc.ca.gov
Chapter 3.17
Campaign Manual 2 August 2023 Page 180
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