After Election Day: closing out a local campaign

The night of the election is a blur. Whether you're celebrating or regrouping, the last thing on your mind is a finance report. But the paperwork keeps going after the votes are counted, and the deadlines don't care how the race turned out.

Closing out well protects you. It keeps you clear of late fees, leaves a clean public record, and makes it much easier to run again someday if you choose to.

The first two weeks

Give yourself a day or two of rest. Then handle the time-sensitive items while details are still fresh.

Watch for certification and any protest or recount deadlines on your election calendar.
Collect every outstanding invoice and receipt from vendors and volunteers.
Record every last contribution and expense, including Election Day food and supplies.
Pick up your yard signs. Many localities have rules about when they must come down.
Thank your volunteers and donors. A short note or call means a lot.
Check when your next finance report is due. It may come quickly.

Reports keep going until you close

A common misunderstanding is that reports stop after the election. In many states they don't. They continue on the regular schedule until you file a final report or terminate the committee.

South Carolina is a good example. The State Ethics Commission says candidates must keep filing quarterly reports as long as they keep a balance in the campaign checking account. A candidate who finishes with a small balance and forgets about the account can keep owing reports, and penalties, long after the race.

Texas works similarly. The Texas Ethics Commission says semiannual reports continue until the filer submits a final report.

Pay off debts and settle loans

Before you can close, you generally need to settle what the campaign owes. In South Carolina, for instance, the State Ethics Commission says a final report requires a zero balance in the campaign account and no outstanding campaign debts.

If you loaned your own campaign money, check your state's rules on repaying yourself before you write that check. Some states may limit how or when a candidate can be repaid. If you still owe money, ask whether you may keep raising funds to retire the debt. In Texas, the commission advises that a filer who plans to keep accepting contributions to pay campaign debts should not terminate the treasurer appointment yet.

What to do with leftover money

If you have money left over, you can't simply move it into your personal account. States spell out the allowed options, and they differ.

Example state	Options described by the state agency
South Carolina	Donate to a 501(c)(3) charity, donate to the state's general fund, return funds to contributors on a pro-rated basis, or a combination
Texas	Options include giving to a political party, a candidate or political committee, certain charities, returning funds to contributors within set limits, and others. A former candidate who keeps surplus funds files annual reports and has six years from the final report or leaving office, whichever is later, to dispose of them.

Whatever your state allows, record each disbursement just like any other expense, so your final report balances to the penny.

File the final report and close the committee

Once the balance is zero and debts are paid, you can usually file a final report. This tells the agency the campaign is done. Then:

File the final report through your state's system, marked as final if the form asks.
Confirm the agency accepted it. Save the confirmation.
Close the campaign bank account and keep the closing statement.
Terminate the committee or treasurer appointment if your state requires a separate step. In Texas, filing a final report terminates the campaign treasurer appointment.

Know what the final report means. South Carolina's State Ethics Commission says that after a candidate files a final report, the candidate may not accept or spend campaign funds. If you think you might run again soon, ask whether keeping the account open makes more sense, and what reporting that would require.

If you win, remember that officeholders often have their own reporting and disclosure duties. Ask the agency what changes once you're sworn in.

A word on federal taxes

Contributions to your campaign generally aren't the issue. Other income can be. The IRS says a political organization with taxable income after a $100 specific deduction must file Form 1120-POL. If your campaign account earned interest or other income, ask a tax professional whether this applies to you.

Keep your records

Don't toss the shoebox of receipts once the final report is filed. Agencies can audit or ask questions later, and complaints can come in after the election.

How long you must keep records depends on your state. The Texas Ethics Commission, for example, says a filer must maintain records for two years after the deadline for the report. Ask your agency for its rule, and consider keeping records longer if you may run again. Store bank statements, receipts, contribution records, copies of every filed report and the agency's confirmations together, in paper or scanned form. Our recordkeeping basics guide covers what to save.

Looking ahead

Before you put the campaign away, write down what you learned: which neighborhoods responded, which volunteers showed up, what you'd do differently. Keep your contact list and your website domain if you may run again. The work you saved now will make a future run easier.

When the time comes, start again with the election calendar builder and the next cycle's dates.

Common questions

Can I keep leftover campaign money?

Usually not for personal use. States set out what you can do with leftover funds, such as giving them to charity or returning them to donors, and the options differ by state. Check your state's rules before you spend or move any of it.

Do I still file reports if I lost?

Usually, yes. Reporting duties typically continue until you file a final report or close the committee, regardless of the result.

How long should I keep campaign records?

It depends on your state. Texas, for example, requires filers to keep records for two years after the report deadline. Ask your state agency, and consider keeping them longer if you may run again.

What if the campaign still owes money?

Many states won't let you close the committee until debts are paid. Some allow continued fundraising to retire debt. Ask your state agency before you file a final report.

Sources

Rules change. Always confirm with your own state and local election offices.