Fillable Schedule H - Campaign Property (Page 2 of 2) in pdf

SCHEDULE H

INVENTORY AND SALE OR TRANSFER OF CAMPAIGN PROPERTY

THIS FORM IS TO BE USED BY CANDIDATES’ COMMITTEES ONLY!

Iowa Code §68A.304 states that equipment, supplies, or other materials purchased with

campaign funds or received in kind are campaign property. Campaign property belongs to the

candidate’s committee and not to the candidate.

Campaign property with a value of five hundred dollars ($500) or more when acquired by the

committee should be listed on the inventory section (Part I) of Schedule H. The property is to be listed on

each report until it is disposed of by the committee or its residual value falls below one hundred dollars

($100). (EXCEPTION: Consumable campaign property, such as stationery, yard signs and other

campaign materials imprinted to be specific to a candidate or election, is NOT required to be

reported as committee inventory, regardless of the initial value of the campaign property.)

When the committee dissolves, this schedule must be filed showing the disposal of any remaining

campaign property (with a residual value of $100 or more, excluding consumable campaign property), by

one of the following means: (1) Sale at fair market value, with the proceeds treated the same as other

campaign funds, or (2) donation of the property itself to one of the recipients permitted to receive

campaign funds.

1. List the candidate’s committee name at the top of each Schedule page. If you are amending the

form, check the box to indicate this in the top right-hand corner.

2. List the original date (month, day, year) of purchase of the campaign property in the first column

of Part I. If the property is received in kind, list the date it was received.

3. Describe the property.

4. List the purchase price of the property (from Schedule B). If the property was received in kind,

show the value when acquired (from Schedule E). If the value is estimated, show “est.” beside the

figure.

5. List the current value of the property, i.e., its value with depreciation considered, or the amount

you believe the property could be marketed for.

6. When the property value is less than $100 and that has been reported, it should be deleted from

inventory.

7. If you sell an item of campaign property, report this transaction on Schedule H, Part II, to indicate

that the committee no longer owns the campaign property. Make the appropriate notation (such as “sold

to Johnson for Sheriff”), along with the date and sale price at fair market value. Show total sales on

summary page.

8. If campaign property is donated to a political party committee or charitable organization, show the

item in Part II of Schedule H and provide the recipient committee with a signed statement of your

donation, including the fair market value of the item, so that the recipient committee can report the item as

an in kind contribution (if applicable).

9. Sub-total or total the page.

10. Number the page.

Schedule H - Campaign Property Page 2