§3-8-5a. Information required in financial statement


Published: 2015

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WEST VIRGINIA CODE











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WVC 3 - 8 - 5 A

§3-8-5a. Information required in financial statement.

(a) Each financial statement required by the provisions of

this article, other than a disclosure of electioneering

communications pursuant to section two-b of this article, shall

contain only the following information:

(1) The name, residence and mailing address and telephone

number of each candidate, financial agent, treasurer or person and

the name, address and telephone number of each association,

organization or committee filing a financial statement.

(2) The balance of cash and any other sum of money on hand at

the beginning and the end of the period covered by the financial

statement.

(3) The name of any person making a contribution and the

amount of the contribution. If the total contributions of any one

person in any one election cycle amount to more than two hundred

fifty dollars, the residence and mailing address of the contributor

and, if the contributor is an individual, his or her major business

affiliation and occupation shall also be reported. A contribution

totaling more than fifty dollars of currency of the United States

or currency of any foreign country by any one contributor is

prohibited and a violation of section five-d of this article. The

statement on which contributions are required to be reported by

this subdivision may not distinguish between contributions made by

individuals and contributions made by partnerships, firms,

associations, committees, organizations or groups.

(4) The total amount of contributions received during the

period covered by the financial statement.

(5) The name, residence and mailing address of any individual

or the name and mailing address of each lending institution making

a loan or of the spouse cosigning a loan, as appropriate, the

amount of any loan received, the date and terms of the loan,

including the interest and repayment schedule, and a copy of the

loan agreement.

(6) The name, residence and mailing address of any individual

or the name and mailing address of each partnership, firm,

association, committee, organization or group having previously

made or cosigned a loan for which payment is made or a balance is

outstanding at the end of the period, together with the amount of

repayment on the loan made during the period and the balance at the

end of the period.

(7) The total outstanding balance of all loans at the end of

the period.

(8) The name, residence and mailing address of any person to

whom each expenditure was made or liability incurred, including

expenditures made on behalf of a candidate or political committee

that otherwise are not made directly by the candidate or political

committee, together with the amount and purpose of each expenditure

or liability incurred and the date of each transaction.

(9) The total expenditure for the nomination, election or

defeat of a candidate or any person supporting, aiding or opposing the nomination, election or defeat of any candidate in whose behalf

an expenditure was made or a contribution was given for the primary

or other election.

(10) The total amount of expenditures made during the period

covered by the financial statement.

(b) Any unexpended balance at the time of making the financial

statements herein provided for shall be properly accounted for in

that financial statement and shall appear as a beginning balance in

the next financial statement.

(c) Each financial statement required by this section shall

contain a separate section setting forth the following information

for each fund-raising event held during the period covered by the

financial statement:

(1) The type of event, date held and address and name, if any,

of the place where the event was held.

(2) All of the information required by subdivision (3),

subsection (a) of this section.

(3) The total of all moneys received at the fund-raising

event.

(4) The expenditures incident to the fund-raising event.

(5) The net receipts of the fund-raising event.

(d) When any lump sum payment is made to any advertising

agency or other disbursing person who does not file a report of

detailed accounts and verified financial statements as required in

this section, such lump sum expenditures shall be accounted for in the same manner as provided for herein.

(e) Any contribution or expenditure made by or on behalf of a

candidate for public office, to any other candidate or committee

for a candidate for any public office in the same election shall be

accounted for in accordance with the provisions of this section.

(f) No person may make any contribution except from his, her

or its own funds, unless such person discloses in writing to the

person required to report under this section the name, residence,

mailing address, major business affiliation and occupation of the

person which furnished the funds to the contributor. All such

disclosures shall be included in the statement required by this

section.

(g) Any firm, association, committee or fund permitted by

section eight of this article to be a political committee shall

disclose on the financial statement its corporate or other

affiliation.

(h) No contribution may be made, directly or indirectly, in a

fictitious name, anonymously or by one person through an agent,

relative or other person so as to conceal the identity of the

source of the contribution or in any other manner so as to effect

concealment of the contributor's identity.

(i) No person may accept any contribution for the purpose of

influencing the nomination, election or defeat of a candidate or

for the passage or defeat of any ballot issue unless the identity

of the donor and the amount of the contribution is known and reported.

(j) When any person receives an anonymous contribution which

cannot be returned because the donor cannot be identified, that

contribution shall be donated to the General Revenue Fund of the

state. Any anonymous contribution shall be recorded as such on the

candidate's financial statement, but may not be expended for

election expenses. At the time of filing, the financial statement

shall include a statement of distribution of anonymous

contributions, which total amount shall equal the total of all

anonymous contributions received during the period.

(k) Any membership organization which raises funds for

political purposes by payroll deduction, assessing them as part of

its membership dues or as a separate assessment, may report the

amount raised as follows:

(1) If the portion of dues or assessments designated for

political purposes equals twenty-five dollars or less per member

over the course of a calendar year, the total amount raised for

political purposes through membership dues or assessments during

the period is reported by showing the amount required to be paid by

each member and the number of members.

(2) If the total payroll deduction for political purposes of

each participating member equals twenty-five dollars or less over

the course of a calendar or fiscal year, as specified by the

organization, the organization shall report the total amount

received for political purposes through payroll deductions during the reporting period and, to the maximum extent possible, the

amount of each yearly payroll deduction contribution level and the

number of members contributing at each such specified level. The

membership organization shall maintain records of the name and

yearly payroll deduction amounts of each participating member.

(3) If any member contributes to the membership organization

through individual voluntary contributions by means other than

payroll deduction, membership dues, or assessments as provided in

this subsection, the reporting requirements of subdivision (3),

subsection (a) of this section shall apply. Funds raised for

political purposes must be segregated from the funds for other

purposes and listed in its report.

(l) Notwithstanding the provisions of section five of this

article or of the provisions of this section to the contrary, an

alternative reporting procedure may be followed by a political

party committee in filing financial reports for fund-raising events

if the total profit does not exceed five thousand dollars per year.

A political party committee may report gross receipts for the sale

of food, beverages, services, novelty items, raffle tickets or

memorabilia, except that any receipt of more than fifty dollars

from an individual or organization shall be reported as a

contribution. A political party committee using this alternative

method of reporting shall report:

(i) The name of the committee;

(ii) The type of fund-raising activity undertaken;

(iii) The location where the activity occurred;

(iv) The date of the fundraiser;

(v) The name of any individual who contributed more than fifty

dollars worth of items to be sold;

(vi) The name and amount received from any person or

organization purchasing more than fifty dollars worth of food,

beverages, services, novelty items, raffle tickets or memorabilia;

(vii) The gross receipts of the fundraiser; and

(viii) The date, amount, purpose and name and address of each

person or organization from whom items with a fair market value of

more than fifty dollars were purchased for resale.





Note: WV Code updated with legislation passed through the 2015 Regular Session

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