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Political Financing Handbook for Electoral District Associations and Financial Agents (EC 20089) – September 2015

This document is Elections Canada's guideline: OGI 2015-02.

Click on the link for the latest Political Financing Handbook for Electoral District Associations and Financial Agents.

Appendix

Registered Association's Financial Transactions Return, Part 4: Association's Financial Statements

Part 4 of the Registered Association's Financial Transactions Return contains the association's financial statements. The financial agent must complete both the Statement of revenues and expenses and the Statement of assets and liabilities, based on the association's own financial statements prepared in accordance with current accounting standards.

This appendix explains the information required for each field.

Statement of revenues and expenses

Fields Explanation
Revenues
Contributions Monetary and non-monetary contributions received or receivable
Transfers Monetary and non-monetary transfers received or receivable
Interest income Bank interest and investment income received or receivable
Fundraising activities Non-contribution portion of fundraising revenue
Other Any revenue not listed above (provide supporting schedule)
Total Revenues
Expenses and Cash Outflows
Advertising – radio Includes airtime charged by the radio station and other expenses associated with the advertisement, such as hiring talent, designing the advertisement, etc.*
Advertising – TV Includes airtime charged by the TV station and other expenses associated with the advertisement, such as hiring talent, designing the advertisement, etc.*
Advertising – other Signs, brochures, billboards, websites, social media*
Voter contact calling services Expenses not paid for by a political entity, for which the services were acquired
Bank charges and interest Bank fees, cheque fees, overdraft charges, etc.
Amortization Current year's depreciation of capital assets
Transfers Monetary and non-monetary transfers made or payable
Fundraising activities Total expenses paid or payable for fundraising events
Office expenses Rent and utilities
Office expenses Insurance, supplies, subscriptions and dues, maintenance, etc.
Polling and research Polling and research conducted
Professional services Include legal and consulting fees, and the auditor's fee
Salaries and benefits Salaries and benefits paid to employees (administration, bookkeeping, etc.)
Travel and hospitality Example: expenses of electoral district association officials or volunteers travelling to the party's annual convention

Other

Examples: registration fee for conventions, writedown of obsolete assets, and any other expense not listed above (provide supporting schedule)

Total Expenses
Net Income (Loss)

* The registered association is prohibited from incurring election advertising expenses.

Statement of assets and liabilities

Fields Explanation
Current Assets
Cash and equivalents Bank account balance, short-term deposits and petty cash
Accounts receivable Amounts owed to the registered association
Inventory Signs and other items of significant value
Prepaid expenses Prepaid insurance, property taxes, utilities, etc.
Other Any asset not listed above (provide supporting schedule)
Total Current Assets
Long-term Assets
Capital assets Depreciated value of fixed assets, such as computers and related equipment, furniture, etc. (provide supporting schedule)
Other Any other long-term asset, for example, a long-term investment (provide supporting schedule)
Total Long-term Assets
Total Assets
Current Liabilities
Accounts payable and accrued liabilities Outstanding charges applicable to the year reported (for example, monthly telephone bill, hydro bill)
Loans 12-month payments applicable to the year reported on a multi-year loan (capital only)
Other Any other current liabilities (provide supporting schedule)
Total Current Liabilities
Long-term Liabilities
Loans Loan balances owing (capital owed on Dec 31 less 12 months' payments, which is the amount in Other current liabilities)
Other Other long-term liabilities not listed above (provide supporting schedule)
Total Long-term Liabilities
Net Assets
Opening balance Ending balance from the previous year's annual financial return
Add net income (subtract loss) Current year's net income (or loss) – from the Statement of revenues and expenses
Ending balance = Accumulated surplus (deficit)
Total Liabilities and Net Assets Must equal total assets