Each State Branch of the Party has or will be provided with a Commonwealth Bank Account, The State Treasurer or Donations Officer shall be the authorised signatories to the account.
One other Officer will also be nominated at a meeting of the State Branch to be an authorised signatory. This person shall be known as the State Finance Officer.
All monies that are recorded in the Master Donations Register shall be deposited into the State Account.
Expenditures from the State Account shall be by way of an EFTPOS card attached to the account or by way of a cheque book attached to the account.
Every deposit of funds into a State Account will be entered into a State Ledger by the Compliance Officer or the Donations Officer of the Branch.
Every expenditure of funds will noted in the Branch Diary by the HEMP Party Officer delegated with this responsibility.
Every month the Financial Officer of the State Branch download a digital extract of Financial Statement for the State Account and will merge this statement into a State Finances Database.
Upon merging this information into the Finances Database the Finance Officer shall append to the database notes regarding each input and expenditure sufficient to describe that expenditure (as per the example immediately following).
Rec: Z234-013 – cash deposit
Rec: Z234-014 – cash deposit
Rec: Z234-012 – personal cheque
PP*2344CODE 4029357733 AU AUS Card xx8147 Value Date: 17/08/2012
Stamps from Nimbin Post Office.
Petrol for Brisbane Meeting
International Transaction Fee Value Date: 28/08/2012
FORMSTACK, LLC 800-8456697 IN USA Card xx8147 USD 7.00 Value Date: 28/08/2012
Northern Rivers sub-branch: 420.00; NSW Branch Events 369.00
Note that in this example the entries in BLUE represent information drawn from the Branch Diary that has been entered into the Finances Database. All the rest of the information is already in the statement extract.
Every State Branch will be provided a commencing blank Finances Database.
The Officers of any Branch or Sub-Branch of the HEMP Party will keep a diary for the Branch or sub-branch in which will be listed all events and expenditures associated with those events. This diary should contain notes on all the activities of the group.
The State Ledger is the primary Account Book for the Branches and the Sub-Branches. Each month when the State Finances Database has been archived then the month’s financial details should be printed out and stapled to a page in the ledger. Any matters that are at all unclear regarding expenditure or inputs into the State Account should be noted in the ledger.
The State Journal
A copy of all advertisements should be stapled into the Journal along with details on where and when the advertisement appeared and how much it cost.
Any interaction with the Federal Party or with the AEC must be noted in the Journal.
All State Branch meeting Minutes will be entered into the Journal.
Any matters of official significance to the Branch should be recorded in the Journal. By noting and describing these matters in the journal it protects officers from faulty memories or institutional corruption.
The Federal AEC disclosure scheme requires candidates, registered political parties, their State Branches, local branches/sub-party units and their associated entities, donors and other participants in the electoral process to lodge annual or election period financial disclosure returns with the Australian Electoral Commission (AEC).
Political parties registered with the AEC and their state or territory branches are required to lodge an annual Political Party Disclosure Return by 20 October each year.
The appropriate form for State Branches of a political Party can be downloaded from: http://www.aec.gov.au/Parties_and_Representatives/financial_disclosure/guides/associated-entities/index.htm
For the purposes of disclosure, organized state or territory branches of registered political parties are treated as being separate to the registered party and must complete their own annual return form.
If each State branch keeps the records indicated as required in these guidelines then this process of financial disclosure will be relatively easy to undertake.
The financial disclosure guide released by the AEC is available from: http://www.aec.gov.au/Parties_and_Representatives/financial_disclosure
The Federal Office of the HEMP Party will assist all of our State Branches during the process of Financial Disclosure.