Estimating independent expenditures
If the cost of an independent expenditure is not known at the time it is disseminated, the party committee estimates the cost on the 24 or 48-hour report.
Reporting the estimate
The party committee estimates the cost of the independent expenditure on its 24 or 48-hour report using Form 3X, Schedule E. In the purpose field, clearly indicate that the amount is an estimate.
At the time the TV ad for Al Verroes was publicly distributed, the party committee did not have the exact cost information from the vendor. The party committee estimated the cost of the ad on their 48-hour report and clearly labeled that the amount is an estimated cost in the purpose of expenditure field. The party committee included the vendor’s name and information, the distribution date, and aggregate for this election and race in this calendar year. It also disclosed that the ad supports Al Verroes who is running in the 2018 general election for New York’s 25th congressional district.
Reporting the actual cost
The party committee reports the actual cost of the independent expenditure on its next regularly scheduled report using Form 3X, Schedule E. In the purpose field, note that the amount is the correct amount and the amount initially reported on the 24 or 48-hour report was an estimate.
Now that the party committee knows how much the ad costs, it discloses the actual amount of the ad on its 2018 September Monthly Report (covering 8/1/18 – 8/31/18). The party committee also includes the vendor’s name and information, the distribution date and the payment date (since both are known), and the aggregate for this election and race in this calendar year. It also discloses that the ad supports Al Verroes who is running in the 2018 general election for New York’s 25th congressional district.
Reporting with FECFile
To enter independent expenditures, go to the Summary tab and right click on “Line 24 Independent expenditures.”
