Loans
Each time a loan is received, Part 1 of Schedule L is completed and the schedule is attached to the C-3 showing the loan's deposit.
The Schedule L is also filed with each C-4 report as long as any campaign loans remain outstanding or there is any loan repayment or forgiveness activity to report. Loan payments are disclosed in Part 2 of the Schedule L. Any loan forgiveness that occurred during the C-4 reporting period is disclosed in Part 3 of the Schedule L. An outstanding loan balance is shown in Part 4 of the Schedule L.
Other Debt
Since one of the purposes of campaign disclosure reporting is to show how the campaign dollars are spent, your reports would be incomplete without including those debts the campaign is obligated to pay but, for whatever reason, has not as yet.
In Part 3 of Schedule B, you'll list each order placed (but not paid), debt or other obligation (except loans) of more than $1,000 when it: 1) is outstanding as of the last day of the reporting period and has been outstanding for more than five business days in the 30 days before an election; or 2) is outstanding as of the last day of the reporting period and has been outstanding for more than 10 business days during all other times.
A promise or promise to pay for goods or services or any offer to purchase advertising space, broadcast time or other advertising related product or service is considered an order placed and must be reported on the Schedule B. Contractual liabilities, even when contingent on a future event, such as a bonus that will be paid if the candidate is elected, must be reported as debt. Regularly recurring expenses of the same amount (such as rent, utilities, insurance, cellular phone costs, and payments to campaign staff) do not have to be reported unless they were past due on the last day of the reporting period.
For each reportable debt, show the date the order was placed or the obligation entered into, the vendor's name and address, the amount owed and the expenditure code that describes the debt or a description of it. Estimate the cost of an order placed if you have not yet been billed for it.
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