November 3, 2020 Candidate Packet - Flipping Book Version

Lines 20, 21, & 22 These lines are for certain state candidates only. Local committees do not complete these sections. Answering Your Summary Page Questions A. Is there any circumstance where Line 16, Ending Cash Balance, would be a negative amount? If you report a negative amount on Line 16, this means that either you have made a mathematical error in your calculations or the committee’s bank account is overdrawn. Rounding off also may cause a small negative in the cash on hand balance. B. Is there any circumstance where an amount in Column A would be negative? Yes. When loans and accrued expenses are paid down, the amount reflected in Column A may be a negative amount. C. What should I do if I am unable to balance my accounting records by the filing deadline? Since the Political Reform Act does not provide for filing deadline extensions, complete the form as accurately as you can and file by the deadline. You should file an amendment with the corrections as soon as possible. D. What is the most common mistake made on the Form 460 Summary Page? Loan repayments are often reported twice, once on Schedule B and again on Schedule E. When the committee makes a loan repayment, it should only be reported on Schedule B.

Fair Political Practices Commission advice@fppc.ca.gov

Chapter 8. 10

Campaign Manual 2 June 2020