20A-11-401 - Officeholder financial reporting requirements -- Year-end summary report.
20A-11-401. Officeholder financial reporting requirements -- Year-end summaryreport.
(1) (a) Each officeholder shall file a summary report by January 10 of each year.
(b) An officeholder that is required to file a summary report both as an officeholder andas a candidate for office under the requirements of this chapter may file a single summary reportas a candidate and an officeholder, provided that the combined report meets the requirements of:
(i) this section; and
(ii) the section that provides the requirements for the summary report that must be filedby the officeholder in the officeholder's capacity of a candidate for office.
(2) (a) Each summary report shall include the following information as of December 31of 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 received since the last summaryreport, if any;
(iii) a single figure equal to the total amount of expenditures made since the lastsummary report, if any;
(iv) a detailed listing of each contribution and public service assistance received since thelast summary report;
(v) for each nonmonetary contribution:
(A) the fair market value of the contribution with that information provided by thecontributor; and
(B) a specific description of the contribution;
(vi) a detailed listing of each expenditure made since the last summary 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 reportplus all receipts minus all expenditures.
(b) (i) For all individual contributions or public service assistance of $50 or less, a singleaggregate figure may be reported without separate detailed listings.
(ii) Two or more contributions from the same source that have an aggregate total of morethan $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 December31 of the previous year.
(3) The summary report shall contain a paragraph signed by the officeholder certifyingthat, to the best of the officeholder's knowledge, all receipts and all expenditures have beenreported as of December 31 of the last calendar year and that there are no bills or obligationsoutstanding and unpaid except as set forth in that report.
Amended by Chapter 361, 2009 General Session