What financial reporting is required?

A:

It would be very good for the campaign to have a Treasurer. Candidates for Federal Office will also file with the Federal Election Commission (FEC) a campaign financial report in addition to the report sent to the WV Secretary Of State (SOS). The SOS has forms available for download on their site. All advertising must include who is paying for the advertising. This is the official name of the campaign and the name of the treasurer. If the campaign is solely funded by the candidate the term “Paid for by the Candidate” is used.

Any money put into the campaign from the candidate should be recorded as a loan to the campaign from the candidate. If the candidate receives enough donations and has money left over this loan can be paid back to the candidate. If the money has been spent during the campaign and there is not enough money left to repay the loan, the unpaid portion can be reclassified as a donation to the campaign from the candidate. This should zero out your final campaign finance report. You can't reclassify the other way. You can't record money put into the campaign by the candidate as a donation and in the end reclassify it to a loan if there is money left over. That is a No No.


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