CEC’s reminder to political organizations: sets of financial statements must be submitted by March 15.

The sets of financial statements for the previous calendar year must be submitted to the commission by March 15 of each year (inclusive).

This obligation also applies to political committees and analytical centers with the status of a public legal entity.

The CEC emphasizes the legal requirement for independent verification of the finances of political organizations and analytical centers.

The obligation to order an independent audit arises for those political organizations that receive 200 VMDU sizes and a larger amount of income during the calendar year (currently it is 359,800 euros) or if the political party owns and receives state budget allocations in accordance with the law. For analytical centers, this obligation arises following receiving half the amount of income – 100 VMDU sizes (179,900 euros) or following receiving state budget allocation funds from a political party.

This means that all political parties that receive state budget allocations, regardless of the amount of income received during the calendar year, as well as analytical centers (if the party has transferred part of the amount received from the state budget allocations), must conclude a political organization verification agreement with audit firm or auditor.

This procedure was approved in 2023. January 12 by the decision of the CEC, which combined several previously valid procedures in order to regulate the financial management of political organizations in one document. The provisions also apply to political committees.

The procedure for filling out financial reports and submitting other documents for analytical centers is approved in 2024. January 18 by the decision of the CEC.

The set of financial statements of each political organization consists of a statement of financial position, a statement of performance and an explanatory note to the financial statements.

Attachments must be submitted together with this set: a report on the use of state budget allocations, a report on financing the activities of a political organization. The registration log of the membership fee and the report of the agreed procedures are submitted together.

Sets of financial statements with appendices and audit reports are published publicly on the CEC website. The information is constantly updated. Lists of members of political organizations who have paid more than 360 euros in membership fees during the calendar year are also published.

The financing of political organizations is controlled and supervised by the CEC in accordance with the procedure established by law together with other institutions.