20A-11-506. Political party financial reporting requirements — Year-end summary report.
(1)
The party committee of each registered political party shall file a summary report by January 10 of each year.
Terms Used In Utah Code 20A-11-506
Contribution: means any of the following when done for political purposes:
(i)
a gift, subscription, donation, loan, advance, or deposit of money or anything of value given to the filing entity;
(ii)
an express, legally enforceable contract, promise, or agreement to make a gift, subscription, donation, unpaid or partially unpaid loan, advance, or deposit of money or anything of value to the filing entity;
(iii)
any transfer of funds from another reporting entity to the filing entity;
(iv)
compensation paid by any person or reporting entity other than the filing entity for personal services provided without charge to the filing entity;
(v)
remuneration from:
(A)
any organization or its directly affiliated organization that has a registered lobbyist; or
(B)
any agency or subdivision of the state, including school districts;
(vi)
a loan made by a candidate deposited to the candidate's own campaign; and
for each contribution or public service assistance:
(i)
the name and address of the individual or source making the contribution or public service assistance, except to the extent that the name or address of the individual or source is unknown;
(ii)
the amount or value of the contribution or public service assistance; and
(iii)
the date the contribution or public service assistance was made; and
(b)
for each expenditure:
(i)
the amount of the expenditure;
(ii)
the goods or services acquired by the expenditure; and
Expenditure: means any of the following made by a reporting entity or an agent of a reporting entity on behalf of the reporting entity:
(i)
any disbursement from contributions, receipts, or from the separate bank account required by this chapter;
(ii)
a purchase, payment, donation, distribution, loan, advance, deposit, gift of money, or anything of value made for political purposes;
(iii)
an express, legally enforceable contract, promise, or agreement to make any purchase, payment, donation, distribution, loan, advance, deposit, gift of money, or anything of value for political purposes;
(iv)
compensation paid by a filing entity for personal services rendered by a person without charge to a reporting entity;
(v)
a transfer of funds between the filing entity and a candidate's personal campaign committee;
(vi)
goods or services provided by the filing entity to or for the benefit of another reporting entity for political purposes at less than fair market value; or
Receipts: means contributions and public service assistance. See Utah Code 20A-11-101
Source: means the person or entity that is the legal owner of the tangible or intangible asset that comprises the contribution. See Utah Code 20A-11-101
Summary report: means the year end report containing the summary of a reporting entity's contributions and expenditures. See Utah Code 20A-11-101
(2)
(a)
Each summary report shall include the following information as of December 31 of the previous year:
(i)
the net balance of the last summary report, if any;
(ii)
a single figure equal to the total amount of receipts reported on all interim reports, if any, during the previous year;
(iii)
a single figure equal to the total amount of expenditures reported on all interim reports, if any, filed during the previous year;
(iv)
a detailed listing of each contribution received since the last summary report that has not been reported in detail on an interim report;
(v)
for each nonmonetary contribution, the fair market value of the contribution;
(vi)
a detailed listing of each expenditure made since the last summary report that has not been reported in detail on an interim report;
(vii)
for each nonmonetary expenditure, the fair market value of the expenditure; and
(viii)
a net balance for the year consisting of the net balance from the last summary report, if any, plus all receipts minus all expenditures.
(b)
(i)
For all individual contributions of $50 or less, a single aggregate figure may be reported without separate detailed listings.
(ii)
Two or more contributions from the same source that have an aggregate total of more than $50 may not be reported in the aggregate, but shall be reported separately.
(c)
In preparing the report, all receipts and expenditures shall be reported as of December 31 of the previous year.
(3)
The summary report shall contain a paragraph signed by the treasurer of the party committee certifying that, to the best of the treasurer’s knowledge, all receipts and all expenditures have been reported as of December 31 of the previous year and that there are no bills or obligations outstanding and unpaid except as set forth in that report.
