48. Do political parties have to report on their election campaign finances?

Article 49, para 5 of the Law on Parliamentary Elections; art. 42, para 4 Law on Presidential Election; article 71, para 4 Law on Local Elections.

All election laws require managers of election funds to submit the financial statements on the receipt and use of election funds to the relevant election commissions in accordance with forms established by the CEC. For parliamentary elections, the manager of the current account of an electoral fund of a party shall submit an interim financial report on the use of resources in the respective current account, to the CEC, not later than thirty days before the voting day  for the period starting the day of opening of the accumulation account of the electoral fund and ending thirty two days before the day of voting. Consequently, the final financial statements for the parliamentary elections must be submitted to the CEC not later than the 7th day after the election.  In local elections, they are to be submitted to the relevant TEC not later than the fifth day after the election. For presidential elections the account manager must submit the reports latest on the 7th day after the Election day. The authorities indicate that fund managers are not obliged to also submit source documents such as payment orders, invoices etc. as the CEC and TEC receive detailed information directly from the banking institutions concerned, via weekly bank statements on the accounts of election funds.