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FEDERAL ELECTION CAMPAIGN RECORDKEEPING AND ACCOUNTING

Recordkeeping

The Federal Election Commission emphasizes that an individual who tests the waters must be sure to keep financial records. If he or she later becomes a candidate, the money raised and spent to test the waters must be reported by the campaign as contributions and expenditures.

Separate Bank Account

Another suggestion by the FEC (though not a requirement) is the segregation of testing-the-waters funds from personal funds. It is advisable for the individual to set up a separate bank account for the deposit of receipts and the payment of expenses. If the individual later becomes a candidate, a campaign account must be established to keep the campaign funds separate from anyone’s personal funds.

Organizing a Testing-the-Waters Committee

Click here to return to the home page of the Unity Party of America's Candidate’s Campaign Guide (adapted from the Federal Election Commission's Campaign Guide for Congressional Candidates and Committees May 2004 Edition) - your online resource for United States federal campaign finance law and US federal election law, regardless of your political party affiliations as a candidate for federal office.

The Unity Party of America Unity Party Origins Unity Party Platform Iraq War Memorial Honoring America's Fallen Money Matters - Contribute Today! Candidates' Corner US Congress Constitution of the United States of America Draft Arnold Schwarzenegger/Amend for Jen Bill's Blog on Writing, Running, and Politics - Notes from the Chairman The UPA's Unity Runners - Running for Unity UPA Bumper Stickers, T-Shirts, and More Email the Unity Party Today!

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