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The Limited Public Financing Act requires that a portion of any surplus campaign funds remaining as of December 31, 2018, be returned to the Election Campaign Fund no later than January 31, 2019. The amount to be returned is calculated by multiplying the amount of surplus campaign funds by the percentage that total public financing received represents of total monetary contributions received for the election period.
For example, if a candidate receives $40,000 in contributions, $10,000 in public financing, and claims surplus of $5,000 after the election, the candidate would owe the Election Campaign Fund $1,250 (Use LPF Form 4 for calculation).
A candidate is not required to return any surplus funds in an amount greater than the amount of public financing received. Public Ethics Commission staff can assist you in calculating the amount that must be returned to the City, if any.