Estimating independent expenditures
If the cost of an independent expenditure is not known at the time it is disseminated, the filer estimates the cost on the 24 or 48-hour report.
Reporting the estimate
The filer estimates the cost of the independent expenditure on its 24 or 48-hour report using Schedule 5-E of Form 5. In the purpose field, clearly indicate that the amount is an estimate.
At the time the TV ad for Dolley Madison is publicly distributed, the filer didn’t know the exact amount that the ad cost. The filer estimates the cost of the ad on their 48-hour report and clearly labels that the amount is an estimated cost in the purpose of expenditure field. The filer includes the vendor’s name and information, the distribution date, estimated amount, and aggregate for this election and race. It also discloses that the ad supports Dolley Madison who is running in the general election for Virginia’s Senate seat.
Reporting the actual cost
The filer reports the actual cost of the independent expenditure on its quarterly report using Schedule 5-E of Form 5. 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 Palm Trees, Inc. knows how much the ad cost, it discloses the actual amount of the ad on its October Quarterly Report. The filer includes the vendor’s name and information, the distribution date, estimated amount, and aggregate for this election and race. It also discloses that the ad supports Dolley Madison who is running in the general election for Virginia’s Senate seat.
Reporting with FECFile
To enter independent expenditures, go to the Summary tab and right click on “Line 7 Independent expenditures.”
