Campaign accounts and record keeping
Parties, candidates and other election participants are responsible for understanding and complying with the rules for campaign accounts and record keeping set out in the Electoral Funding Act and the Electoral Funding Regulation.
This section provides an overview of what parties, groups, candidates and other election participants need to understand about operating a campaign account and keeping records of political donations and electoral expenditure.
The rules set out in the Political donations section in relation to who is responsible for the management and disclosure of political donations and electoral expenditure apply to the use of campaign accounts and keeping of records.
For further information, visit the Campaign accounts section on our website or contact us.
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What is a campaign account?
A campaign account is an account that is required to be kept by a party for making payments of electoral expenditure. A party’s campaign account may also be required to be used by the party agent on behalf of candidates the party agent is responsible for.
A campaign account is also an account that is required to be kept by a candidate for an election where the candidate is responsible for the management and disclosure of political donations and electoral expenditure.
A campaign account is to be separate to any other accounts of the party or candidate and must be held with a financial institution in Australian dollars.
There are no requirements under the Electoral Funding Act as to the name of a campaign account however a financial institution may require an account to be kept in the name of the party or candidate.
Campaign account for a candidate where the party agent is responsible
Question | Answer |
|---|---|
Which campaign account to use? | The party’s state campaign account, kept by the party agent. The party agent must be authorised to operate the party’s state campaign account for these purposes and must have access to the bank statements to keep complete and accurate records. (The candidate cannot keep a campaign account for the election). |
Who can make payments into or from the campaign account? | Into the campaign account – the party agent. From the campaign account – any person appointed by the party agent. The party agent should keep a written record of the appointment. |
| What can be deposited into the campaign account? | Contributions made by the candidate to finance their own campaign. Political donations made to or for the benefit of a candidate, subject to political donation caps and rules. |
| What can be paid from the campaign account? | Payments for electoral expenditure on behalf of candidate. Payments for electoral expenditure incurred by a party for an electoral district. This is to be accounted separately from the above payments on behalf of a candidate. |
| What can be paid outside the campaign account? | Minor payments of electoral expenditure of $50 or less (and no more than $1,000 in total in an election period). A record must be kept by the party agent in the petty cash book that is required to be kept. |
Campaign account of a candidate where the candidate is responsible
Question | Answer |
|---|---|
Which campaign account to use? | A separate campaign account kept by the candidate if the candidate:
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Who can make payments into or from the campaign account? | The candidate or a person appointed by them to do so. The person operating the account must be authorised with the financial institution to operate the account. A written record should be kept of any appointments. |
| What can be deposited into the campaign account? |
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| What can be paid from the campaign account? |
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| What can be paid outside the campaign account? | Minor payments of electoral expenditure of $50 or less (and no more than $1,000 in total in an election period). A record must be kept in the petty cash book that is required to be kept. |
When the account is no longer required it may be closed. Any amount remaining in the campaign account must be paid:
- to the party of which the candidate was a member at the time of the election, or
- if that does not apply – to a charity nominated by the candidate.
Records must be kept of the bank statements from the account for the purpose of a compliance audit that will be undertaken by the NSW Electoral Commission.
Record keeping
Complete and accurate accounting and financial records must be kept by parties, party agents, elected members, groups and candidates for at least three years in order for political donations and electoral expenditure to be properly disclosed and to assist with an audit by the NSW Electoral Commission.
The following people and entities are responsible for keeping records of political donations and electoral expenditure:
- a party is responsible for keeping the party’s records
- a party agent on behalf of a candidate for whom the party agent is responsible is responsible for keeping the candidate’s records
- a candidate who is not a member of a party is responsible for keeping their own records.
Accounting records may be kept in paper or electronic form. If records are kept in electronic form the records must comply with the requirements for keeping paper records to the extent the requirements can be reasonably complied with in relation to computer records.
If accounting records are kept in electronic form the responsible person must ensure that:
- entries appear in chronological sequence, and
- all entries are numbered sequentially in a manner that enables the completeness of the records to be conveniently verified, and
- no amendment to the particulars of a transaction already recorded can be made otherwise than by a separate transaction effecting the amendment, and
- a back-up copy of all records that are less than three years old must be made at least once a month, and
- the most recent back-up copy must be kept in a separate location so that any incident that might adversely affect the records would not affect the back-up copy.