California Regulations § 18524 Investment and Expenditure of Candidates' Campaign Funds
Regulation Text
(a)
All contributions received by a candidate shall be deposited in the candidate's campaign bank account established pursuant to Government Code Section
85201
. The candidate shall make all campaign expenditures from the campaign bank account. Moneys in the candidate's campaign bank account shall be spent only on expenses associated with the candidate's election to the specific elective office designated in the statement of intention and expenses associated with holding that office.
(b)
The candidate may transfer funds from the campaign bank account to certificates of deposit, interest-bearing saving accounts, money market accounts, or similar accounts which shall be established only for funds for the same elective office for which the campaign bank account was established. Prior to expenditure, the funds shall be redeposited in the candidate's campaign bank account.
(c)
The candidate may establish one or more credit card accounts or one or more charge accounts for the campaign bank account. Expenditures for payment of charges incurred on each credit card or charge account shall be made only from the campaign bank account. The credit card and charge accounts shall be used only for expenses associated with the candidate's election to the specific elective office designated in the statement of intention or expenses associated with holding that office.
(d)
The candidate may establish, for the campaign bank account, one petty cash fund at each campaign office. No more than $100 shall be deposited in a petty cash fund at any time. No expenditure of $100 or more shall be made from a petty cash fund. Expenditures of less than $100 from a petty cash fund shall be deemed to be expenditures from the campaign bank account. All expenditures from a petty cash fund shall be for expenses associated with the candidate's election to the specific elective office designated in the statement of intention or for expenses associated with holding that office.
Source
1. New Section filed 4-20-89; operative 5-20-89 (Register 89, No. 18).
History
1. New Section filed 4-20-89; operative 5-20-89 (Register 89, No. 18).
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