Registered Association Financial Returns

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Registered Associations Financial Returns

Introduction

This database contains all the information produced by the registered electoral district associations on their financial operations.

Pursuant to subsection 403.35(1) of the Canada Elections Act, the financial agent of a registered electoral district association is required to provide the Chief Electoral Officer with the Registered Association Financial Transactions Return, within five months after the end of the fiscal period as well as other required documents including the auditor’s report relating to the return. The auditor’s report is required if the registered association has in a fiscal period accepted contributions of $5,000 or more in total or incurred expenses of $5,000 or more in total.

New rules for financing registered electoral district associations came into effect on January 1, 2004. The rules are part of important changes to the Canada Elections Act made by Parliament in June 2003.

Bill C-2, the Federal Accountability Act, which came into force on January 1, 2007, made changes to a number of acts, among them the Canada Elections Act. As of January 1, 2007, only citizens and permanent residents of Canada can make political donations to registered parties, registered electoral district associations, candidates, nomination contestants and leadership contestants. Corporations, trade unions and unincorporated associations may no longer make political donations. The limits on contributions were also reduced.

Registered Association Financial Transactions Return

The Registered Association Financial Transactions Return must include:

  • a statement of contributions received by the registered association from individuals and the number of contributors;
  • the name and address of each individual who made contributions of a total of more than $200 to the registered association, that total amount as well as the amount of each such contribution and the date on which it was received by the registered association;
  • a statement of assets and liabilities and any surplus or deficit in accordance with generally accepted accounting principles, including disputed and unpaid claims;
  • a statement of revenues and expenses in accordance with generally accepted accounting principles;
  • a statement of the commercial value of goods or services provided and of funds transferred by the registered association to the registered party, to another registered association or to a candidate endorsed by the registered party;
  • a statement of the commercial value of goods or services provided and of funds transferred to the registered association from the registered party, another registered association, a candidate, a leadership contestant or a nomination contestant;
  • a statement of loans or security including any conditions on them;
  • a statement that provides full disclosure of financial loans for the purposes of the campaign, including interest rates, repayment schedules and the name of the lender; and
  • a statement of contributions received by the registered association, but returned in whole or in part to the contributors or otherwise dealt with in accordance with the Act.

Presentation of returns

The information in this database is presented as submitted by the registered associations. It has been organized in such a way as to permit various searches of the data submitted.


Introduction

As the financial agent of a registered association, you must submit the Registered Association Financial Transactions Return (EC 20081) to the Chief Electoral Officer within five months of the end of the fiscal period. This introduction briefly describes the contents of the four parts of the form. It is followed by detailed instructions for filling out the return.

The parts of the EC 20081 form

Part 1. Declaration

Includes information on the registered association and the financial agent, and contains your declarations about the completeness and accuracy of the return.

Part 2. Cash inflows

2a. Statement of contributions received

Lists all contributions received from individuals, including the date each contribution was received, the individual's name and address, the amount of all aggregated monetary and non-monetary contributions over $200, the total amount and number of all monetary and non-monetary contributions of $200 or less, and the total amount and approximate number of anonymous monetary and non-monetary contributions of $20 or less.

2b. Statement of contributions received - details of operating loans

Lists the date each loan was received, the name and address of the lender, the name of the loan's guarantor, the contributor class of the lender, the interest rate and the principal of all loans taken by the registered association. The maximum amount drawn against an overdraft or line of credit is also disclosed, along with the name and address of the financial institution.

2c. Statement of contributions received - contributions returned to donors or otherwise dealt with in accordance with the Act

Lists, by class of contributor, the date each contribution was received, the name and address of the contributor, the amount or commercial value of any contribution returned to the donor or remitted to the Chief Electoral Officer, and the date that the contribution was returned or remitted.

2d. Statement of transfers received

Lists the name of the transferor, and the monetary or non-monetary amount, as the case may be, transferred from the registered party, another registered association, a candidate, a leadership contestant or a nomination contestant.

2e. Summary of contributions, loans and transfers received

Summarizes the information reported in parts 2a, 2b and 2d, including the total amount and number of monetary and non monetary contributions, the total principal of loans and the total amount of transfers received.

Part 3. Cash outflows

3a. Statement of transfers to a registered party, another registered association, a candidate, a leadership contestant or a nomination contestant

Gives details of monetary and non-monetary transfers, as the case may be, made from the registered association to a registered party, another registered association, a candidate, a leadership contestant or a nomination contestant.

3b. Statement of unpaid claims

Gives details of unpaid claims, including the name and address of the supplier, the class of contributor to which the supplier belongs and the agreed or disputed amount of the claim.

Part 4. Financial statements

4. Association's financial statements

Includes a statement of assets and liabilities and surplus or deficit, and a statement of revenues and expenses. The statements are based on the association's own financial statements prepared in accordance with generally accepted accounting principles. You must include supporting schedules for all applicable line items.

Filling out the Registered Association Financial Transactions Return

Part 1. Declaration

In this part, you as the financial agent report administrative information about the Registered Association Financial Transactions Return. You must sign and date the declaration that the return is complete and accurate.

A. Registered association's information

Enter the full name, address, telephone number and e-mail address of the registered association.

B. Financial agent's information

Enter your full name, address, residence telephone number, business telephone number and e-mail address.

C. Declaration

This is your declaration about the completeness and accuracy of the return. You must sign and write the date in the space indicated. You must be the financial agent of record with Elections Canada on the date the return is signed.

Part 2a. Statement of contributions received

You must give the full name and address of each contributor who has donated a total amount of funds and goods or services greater than $200.

Elections Canada recommends that you inform your contributors of the requirement, under section 412 of the Canada Elections Act, for the Chief Electoral Officer to publish the names and addresses of contributors who give more than $200.

  1. Determine the total monetary and non-monetary amount contributed by each individual contributor.

  2. For multiple contributions from the same contributor that total an amount greater than $200, for each contribution enter:
    • the date received
    • the full name and address of the contributor
    • the monetary or non-monetary contribution amount
    • in the last row you use for the same contributor, the total amount for that contributor

    For example, if the same contributor made three separate contributions - two $75 monetary contributions and one $75 non-monetary contribution, for a total of $225 - for each contribution, report the name and address of the contributor, the amount and the date received in one row. In the Total per contributor column of the third row, enter $225.

  3. For single contributions greater than $200, enter:
    • the full name and address of the contributor
    • the date received
    • the amount of the monetary or non-monetary contribution
    • the total amount for that contributor

  4. Use as many pages as necessary to carry forward the totals from the previous pages.
  5. For all aggregated contributions of $200 or less, on the last page that you use for part 2a, in the row headed "Total amount of monetary and non-monetary contributions of $200 or less," enter the total amount of contributions of $200 or less and the total number of contributors of $200 or less in column 1 for monetary contributions and in column 2 for non-monetary contributions. Total columns 1 and 2 in column 3. In calculating the number of contributors, be sure to count multiple contributions from the same individual as one contributor.
  6. For anonymous contributions of $20 or less collected from general solicitation at a meeting or fundraising event, on the last page that you use for part 2a, enter in columns 1 and 2 the total amount and the approximate number of contributors for both monetary and non-monetary contributions, and enter in column 3 the total amounts and number of contributors. Be sure to include the supporting documentation for each event where anonymous contributions were collected: a description of the function at which the contributions were collected, the date of the function, the approximate number of people at the function, and the total amount accepted in anonymous contributions
  7. On the last page of part 2a, enter the total amount of all contributions and the total number of contributors in the last two rows.

Part 2b. Statement of contributions received - Details of operating loans

In this part of the return, provide information on any new loans taken out by the registered association during the fiscal year.

You should be aware that if an interest rate less than the market rate at the time the loan was received is charged on a loan from an individual, a non-monetary contribution equal to the value of the foregone interest was made to the association. If the value of the contribution is less than or equal to $200 and the lender is not normally in the business of lending, no contribution needs to be reported. But if the value of the contribution is greater than $200 or if the lender is in the business of lending funds, a non-monetary contribution must be reported in part 2a.

  1. Enter the date you received the loan, the full name of the lender, and the full name of the guarantor, if applicable.
  2. Enter the complete address of the lender.
  3. Enter the principal of the loan in column 1 for loans from individuals and column 2 for loans from others.
  4. Record the total amount and number of lenders for columns 1 and 2.
  5. In the overdraft / line of credit row, indicate whether or not an overdraft or line of credit was used by checking the Y or N box. If yes, record the name and address of the financial institution and the maximum amount drawn on the overdraft or line of credit.
  6. Attach a repayment schedule and a statement of conditions for all loans.

Part 2c. Statement of contributions received - Contributions returned to donors or otherwise dealt with in accordance with the Act

In this part, provide details of any monetary or non-monetary contribution received and subsequently returned to the donor or remitted to the Chief Electoral Officer.

  1. Enter the date you received the returned or remitted contribution.

  2. If available, enter the full name and address of the contributor, and check the box corresponding to the class of contributor (A for individuals and B for others).

  3. Enter the amount of the monetary contribution or the commercial value of the non-monetary contribution, and enter the date the contribution was returned to the donor or remitted to the Chief Electoral Officer.

  4. If you use more than one page, carry forward the total of the monetary and non-monetary columns on the last page of part 2c.

Part 2d. Statement of transfers received

In this part, provide details of all funds and goods and services transferred from the registered party, another registered association, a candidate, a leadership contestant or a nomination contestant.

  1. Enter the name of the registered party, registered association, candidate, leadership contestant or nomination contestant that made the transfer.
  2. Enter the monetary or non-monetary amount of the transfer in the appropriate column 1-10. Column 8 (Leadership contestant - Non-monetary) and column 10 (Nomination contestant - Non-monetary) should not contain any amounts, because non-monetary transfers from contestants to registered associations are prohibited.
  3. Repeat this process for all the transfers you received.

  4. Enter the total of each column in the Total row.

Part 2e. Summary of contributions, loans and transfers received

In this part, summarize the contributions, loans and transfers you reported in parts 2a, 2b and 2d.

  1. In row 1, enter the monetary and non-monetary contributions and number of contributors you reported in the last two rows of part 2a.
  2. In row 2, enter the total amount and the number of loans reported from individuals in part 2b (excluding any lines of credit or overdrafts reported).
  3. In row 3, enter the total amount and the number of loans reported from others in part 2b (excluding any lines of credit or overdrafts reported).
  4. In row 4, enter the sum of rows 2 and 3.
  5. In row 5, enter the monetary and non-monetary transfers received from the registered party reported in the last row of part 2d.
  6. In row 6, enter the monetary and non-monetary transfers received from other registered associations reported in the last row of part 2d.
  7. In row 7, enter the monetary and non-monetary transfers received from candidates reported in the last row of part 2d.
  8. In row 8, enter the monetary transfers received from leadership contestants reported in the last row of part 2d.
  9. In row 9, enter the monetary transfers received from nomination contestants reported in the last row of part 2d.
  10. In row 10, enter the sum of rows 5 to 9.
  11. In row 11, enter the sum of rows 1, 4 and 10 for columns 1, 2 and 3.

Part 3a. Statement of transfers to a registered party, another registered association, a candidate, a leadership contestant or a nomination contestant

In this part, you disclose details about transfers to the registered party, another registered association, a candidate, a leadership contestant or a nomination contestant. Non-monetary transfers to leadership contestants and nomination contestants are allowed under the Act if the goods or services are offered equally to every leadership contestant or to every nomination contestant. Monetary transfers to leadership contestants and nomination contestants are prohibited. You should not include any amounts in the shaded-out columns 7 and 9.

  1. Enter the name of the entity to which the transfer was made.
  2. Enter the monetary or non-monetary amount transferred in the appropriate column 1-10.
  3. Total each column individually.

Part 3b. Statement of unpaid claims

In this part, list all the claims that remain unpaid six months after the payment due date, including all claims for which an invoice or other document evidencing the claim was not sent within three months after the expense was incurred. Whether these claims are disputed or undisputed, you may not pay them without the authorization of the Chief Electoral Officer.

If the Chief Electoral Officer refuses the authorization or any conditions of the authorization are not met, you may make an application to a judge to authorize the payment of the claim.

  1. Full name of supplier: enter the name of the supplier. If the supplier is an individual, enter the family name, given name and initial. If the supplier is a corporation or a business, write its name in the space. In the case of a numbered company, provide the name of the chief executive officer or president.
  2. Address: enter the address of the supplier.
  3. Class of contributor: enter the class of contributor to which the claimant belongs.
  4. Amount agreed and Amount disputed: enter the amount of the unpaid claim that is agreed in the Amount agreed column, or enter the amount that is disputed in the Amount disputed column. If part of the claim is disputed and part undisputed, enter the appropriate amount in each column.
  5. Total: if you use more than one page for part 3b, carry forward the total of unpaid claims, agreed and disputed, to the last page that you use and calculate the total.

Part 4. Association's financial statements

You should complete both statements in this part based on your association's own financial statements prepared in accordance with generally accepted accounting principles. Include supporting schedules for all applicable line items.

Filling out the Statement of revenues and expenses

  1. In accordance with your association's own financial statements, enter the appropriately classified revenues. Attach supporting schedules as applicable. Total the five types of revenue and enter the amount in Total revenues.
  2. In accordance with your association's own financial statements, enter the appropriately classified expenses. Attach supporting schedules as applicable. Total the various types of expenses and enter the amount in Total expenses.
  3. Subtract the amount in Total expenses from the amount in Total revenues, and enter the result in Net income (loss). This figure must match the net income (loss) figure in your association's own financial statements.

Filling out the Statement of assets and liabilities

  1. Enter current assets and long-term assets in the appropriate rows. Attach supporting schedules as applicable. Calculate the Total current assets (A) and Total long-term assets (B) and enter the results. Then add the two totals (A + B) and enter the result in Total assets. The figure for total assets must correspond to the total assets reported in your association's own financial statements.
  2. Enter current liabilities and long-term liabilities in the appropriate rows. Attach supporting schedules as applicable. Calculate the Current liabilities (C) and Long-term liabilities (D) and enter the results.
  3. Complete the Net assets section from the figures in your association's own financial statements, and enter the Ending balance (E). The net income that you include in this section must correspond to the figure you reported in Net income in the Statement of revenues and expenses.
  4. Add C + D + E, and enter the result in Total liabilities and net assets. This result must match the figure in Total assets.

Do not forget to attach the notes to the financial statements and supporting schedules for: other revenues, other current assets, capital assets, other long-term assets, other current liabilities, any new loans reported in part 2b and other long-term liabilities. The supporting schedule for any new loans reported in part 2b should include the interest rate charged and a repayment schedule.

Auditor's report requirements

If, during the fiscal year, your association accepted contributions or incurred expenses of $5,000 or more, your financial transactions return must be accompanied by an auditor's report prepared in accordance with section 403.37 of the Canada Elections Act.

Registered associations that require an auditor's report on their financial transactions return are eligible to receive an audit subsidy of up to $1,500 of the invoiced amount. This subsidy is paid directly to the auditor.

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