Long Beach Municipal Code Div. X Disposal of Surplus Funds

The words set forth in this Section shall have the following meaning when used in this Division:

A. "Election" means the election for which the candidate or officeholder ran for or was a write-in candidate, incurred bills and debts, and is raising contributions to pay net debts outstanding.

B. "Election cycle" means that period commencing with January 1 of an odd-numbered year and ending December 31 of the following year. For a special election, the election cycle commences with the declaration of a vacancy in an elective office and ends six (6) months after the special election date.

C. "Surplus funds" means any funds remaining to a candidate, or any controlled committee of such candidate, sixty (60) days following the end of the election cycle, during which such funds have been raised.

D. "Net debts outstanding" has the same meaning as that set forth in Title 2, Section 18531.61 of the California Code of Regulations, as it reads now and as it may be amended.

(ORD-23-0049 § 4(Exh. A), 2023)

Any person holding office as a result of a successful campaign resulting in surplus funds may retain and transfer up to twenty-five thousand dollars ($25,000.00) of such surplus funds into his or her officeholder expense fund for expenditures associated with holding such office in accordance with the provisions of Sections 89512 and 89513 of the California Government Code. Any such transfer in accordance with this Section shall be counted toward the calendar year fund limit established by Subsection 2.01.380.A of this Code.

(ORD-15-0004 § 2, 2015; ORD-10-0028 § 2, 2010; Ord. C-7283 § 1, 1994; Prop. M, 6-7-94, eff. 6-24-94)

A. Surplus funds shall be disposed of only as provided in this Division. Funds retained by a candidate and specifically earmarked for payment of campaign expenses lawfully incurred during the election cycle need not be included in surplus funds provided that such expense payment is made no later than sixty (60) days after the end of the election cycle.

B. A committee with net debts outstanding at the end of the election cycle may remain open for the purpose of paying such debts. A committee that remains open for the purpose of paying net debts outstanding must file semi-annual disclosure statements and pay an annual committee fee to the California Secretary of State until the committee is terminated.

C. Except as provided in Section 2.01.1020, surplus funds shall be disposed of in the following order and priority:

1. To pay outstanding campaign debts.

2. Surplus funds shall first be used to reimburse the campaign reform account of the City of Long Beach up to the full amount of matching funds, if any, received by the candidate.

3. Any funds remaining after such reimbursement or such payment of debts, if any, may be expended exclusively as provided in Section 89515 of the California Government Code and must be expended no later than sixty (60) days after the end of the Election Cycle.

4. Any funds not expended pursuant to this Subsection by December 31 next following the end of the Election Cycle (or, in the case of a special election, one hundred twenty (120) days after the end of the Election Cycle) shall be paid immediately into the campaign reform account of the City of Long Beach.

(ORD-23-0049 § 2(Exh. A), 2023; ORD-14-0020 § 8, 2014; Ord. C-7661 § 7, 1999; Ord. C-7283 § 1, 1994; Prop. M, 6-7-94, eff. 6-24-94)