A campaign account is an account in a savings institution such as a bank, credit union or trust company, and must be used exclusively for the election campaign.
A sub-account may be opened as long as it has a distinct account number and separate campaign financing records are kept.
A campaign account may not be used for any other purposes other than the election campaign.
An election is held in a specific jurisdiction. Elections in different jurisdictions, such as municipalities or school districts, are separate elections. A candidate running in multiple jurisdictions is operating multiple campaigns.
Each campaign account must be in the name of the election campaign.
Examples of candidate campaign account names
“John Smith campaign”
“Campaign of John Smith”
When to open
A campaign account must be opened as soon as practicable after the first campaign contribution of money is received and before any of the following transactions:
- paying for an election expense
- receiving a transfer from an elector organization
- receiving surplus campaign funds from the previous election
Financial agents are encouraged to open campaign accounts as early as possible. If a financial agent has difficulty opening a campaign account, there is a letter on the Elections BC website at elections.bc.ca/lecf that can be printed and given to the savings institution.
Using the campaign account
The Local Elections Campaign Financing Act includes detailed rules on how a campaign account is used.
- all monetary transactions (e.g., contributions, transfers and expenses) must go through this account
- must only be used for that election
- must remain open until all financial transactions have been completed, including the disbursement of surplus campaign funds
Examples of Campaign Account Transactions