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Campaign Finance
Understanding Campaign Finance Rules & Requirements
Managing campaign funds and reporting activity are essential parts of running for office in North Carolina. The State Board of Elections provides forms, manuals, and training to help candidates and committees follow state laws. These resources support accurate disclosures, timely reporting, proper use of contributions, and help campaigns reduce the risk of compliance issues.
- Reporting Requirements: When and how committees must submit campaign finance reports.
- Contribution and Spending Rules: Who may donate, limits on contributions, and proper use of campaign funds.
- Recordkeeping: Committees must keep detailed records of all contributions, expenditures, loans, and debts.
- Treasurer Responsibilities: Every committee must appoint a treasurer who completes state-required training and oversees compliance.
- Forms and Filing Tools: Access to reporting forms, online filing options, and guidance from the State Board.
- Audits and Enforcement: How reports are reviewed and what may happen when rules are not followed.
Understanding Campaign Money Management
All committees must open a separate bank account used only for campaign activity. Personal funds and campaign funds cannot be mixed.
- Required Account: Committees must deposit all contributions into the campaign account.
- Allowable Spending: Funds may be used only for campaign purposes, not personal expenses.
- Documentation: All transactions must be supported by receipts or invoices.
Loans and Debts
- Reporting: All loans, whether from a bank, candidate, or individual, must be listed on finance reports.
- Repayment: Loan payments must follow banking and reporting rules.
- Outstanding Balances: Debt must remain on reports until fully paid or forgiven according to state rules.
Recordkeeping
- Retention: Committees must keep records for at least three years after the last report is filed.
- What to Keep: Contribution records, receipts, invoices, bank statements, loan agreements, and donation correspondence.
- Purpose: Records are needed for audits, amendments, or questions about campaign activity.
Treasurer
A designated treasurer is required whom is responsible for compliance.
- Training: Treasurers must complete required training from the State Board of Elections.
- Oversight: The treasurer manages contributions, expenditures, reports, and recordkeeping.
- Updates: Any change to the treasurer must be reported to the Board of Elections immediately.
How Threshold Status Affects Campaign Reporting
North Carolina sets different reporting requirements based on how much money a committee raises or spends during an election cycle.
Under-Threshold Status
A committee is under-threshold if it raises or spends $1,000 or less during the election cycle.
- Reduced Reporting: Under-threshold committees do not file routine campaign finance reports.
- Financial Limit: Activity must stay at or below the $1,000 threshold.
- If the limit is exceeded: The committee must immediately switch to over-threshold and begin full reporting.
Over-Threshold Status
A committee becomes over-threshold when it raises or spends more than $1,000.
- Full Reporting: Committees must submit all scheduled disclosure reports.
- Detailed Information: Reports must include contributions, expenditures, loans, and debts.
- Applies to All Committee Types: Candidate committees, political action committees, and referendum committees.
Changing Status
If a committee begins under-threshold but exceeds the limit, the treasurer must notify the Board of Elections and file the next required report. Once over-threshold, reporting continues unless the committee closes or qualifies for under-threshold status after the cycle.
Overview of Campaign Reporting Requirements
This section provides a general overview. Review the North Carolina Campaign Finance Manual and the State Board of Elections campaign finance page for full requirements, forms, and additional guidance.
Organizational Report
- When required: Within 10 days of organizing a committee.
- What it includes: Committee setup, treasurer information, and bank account details.
- Who files: All new candidate, political, and referendum committees.
Under-Threshold Certification
- Who qualifies: Committees that plan to raise or spend $1,000 or less.
- Purpose: Allows simplified reporting.
- If exceeded: Full reporting begins immediately.
Scheduled Reports
- Required for: Over-threshold committees.
- Types of reports: Semiannual, quarterly, pre-election, and year-end reports.
- Content: Contributions, spending, loans, and debts.
Pre-Election Reports
- When required: Before each election in which the candidate appears on the ballot.
- Purpose: Gives voters an updated view of recent fundraising and spending.
Amended Reports
- Required when: A filed report contains an error or missing information.
- Common corrections: Totals, contributor details, or spending categories.
Termination Report
- Used when: A committee ends operations and has no outstanding debt or remaining funds.
- Requirement: A final report must be filed before closing.