Difference between revisions of "GPCA Bylaws Draft Fiscal Policy"

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(revise ARTICLE III FINANCE COMMITTEE)
(revise ARTICLE V ANNUAL BUDGET)
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- The current Budget Committee consists of four members: two from the Finance Committee and two from the Coordinating Committee. Given the breadth of work and responsibility of the budget process, this fiscal policy expands the Budget Committee to six members, three from the Finance Committee and three from the Coordinating Committee. It also legislates against a conflict of interest by clarifying that no one may be a member of the Budget Committee who is recommended in the budget to receive funding for services provided (with one exception, see 4-2.2 below).   
 
- The current Budget Committee consists of four members: two from the Finance Committee and two from the Coordinating Committee. Given the breadth of work and responsibility of the budget process, this fiscal policy expands the Budget Committee to six members, three from the Finance Committee and three from the Coordinating Committee. It also legislates against a conflict of interest by clarifying that no one may be a member of the Budget Committee who is recommended in the budget to receive funding for services provided (with one exception, see 4-2.2 below).   
  
- The current GPCA bylaws governing expenses and disbursal of funds are contained in the Finance Committee section, even though much of the procedures involve the Coordinating Committee and Treasurer. This fiscal policy establishes a separate section (ARTICLE VII) to govern these processes. ARTICLE VII does not change the existing expenses and disbursal of funds, by simply copies them over into 7-3, 7-4 and 7-5.  ARTICLE VII also includes a new section "Section 7-2 Prioritization of Expenditures", mirroring that of the GPUS, meant to minimize the need for discretion on the party of the Coordinating Committee and Treasurer by providing clarity that the GPCA shall first meet its legal and contractual obligations and the basic party expenses to 'keep the lights on' before expending funds for other purposes.
+
- The current GPCA bylaws governing expenses and disbursal of funds are contained in the Finance Committee section, even though much of the procedures involve the Coordinating Committee and Treasurer. This fiscal policy establishes a separate section (ARTICLE VII) to govern these processes. ARTICLE VII does not change the existing expenses and disbursal of funds, by simply copies them over into 7-3, 7-4, 7-5 and 7-6.  ARTICLE VII also includes a new section "Section 7-2 Prioritization of Expenditures", mirroring that of the GPUS, meant to minimize the need for discretion on the party of the Coordinating Committee and Treasurer by providing clarity that the GPCA shall first meet its legal and contractual obligations and the basic party expenses to 'keep the lights on' before expending funds for other purposes.
  
 
- The GPCA currently has no policy governing from whom it will take donations. This fiscal policy clarifies that the party will accept no donations from corporations, unions or banks and will only take donations from political action committees approved of by the General Assembly (ARTICLE VI). This policy mirrors that of the GPUS, helping to create an environment of transparency that can make it easier for the GPCA to raise funds.
 
- The GPCA currently has no policy governing from whom it will take donations. This fiscal policy clarifies that the party will accept no donations from corporations, unions or banks and will only take donations from political action committees approved of by the General Assembly (ARTICLE VI). This policy mirrors that of the GPUS, helping to create an environment of transparency that can make it easier for the GPCA to raise funds.
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'''4-2.2''' No one may be member of the Budget Committee who is recommended in the budget to receive funding for services provided, except in the case where the state Treasurer may be recommended to receive a stipend for services provided as Treasurer, in which case the Treasurer shall be recused from the separate vote whether to include the stipend in the budget, but then may otherwise vote on the Draft Budget.   
 
'''4-2.2''' No one may be member of the Budget Committee who is recommended in the budget to receive funding for services provided, except in the case where the state Treasurer may be recommended to receive a stipend for services provided as Treasurer, in which case the Treasurer shall be recused from the separate vote whether to include the stipend in the budget, but then may otherwise vote on the Draft Budget.   
  
'''4-2.2''' The state Treasurer shall serve for the duration of their tenure as state Treasurer.  The Coordinating Committee liaison to the Finance Committee shall serve on the budget working group for the duration of his/her tenure as liaison. The at-large Finance Committee members and the at-large Coordinating Committee members may each serve for up to three consecutive one-year terms, but then may not serve a fourth, after which this timing begins anew.   
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'''4-2.3''' The state Treasurer shall serve for the duration of their tenure as state Treasurer.  The Coordinating Committee liaison to the Finance Committee shall serve on the budget working group for the duration of his/her tenure as liaison. The at-large Finance Committee members and the at-large Coordinating Committee members may each serve for up to three consecutive one-year terms, but then may not serve a fourth, after which this timing begins anew.   
  
 
'''Section 4.3 Decision-making'''
 
'''Section 4.3 Decision-making'''
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'''Section 5-2 Budget Requests'''
 
'''Section 5-2 Budget Requests'''
  
'''5-2.1''' Standing Committees and Working Groups shall submit annual budget requests to the Finance Committee no later than January 31st of each year. Requests must be consistent with the mission and work plan of the Standing Committee or Working Group, must include income and expense projections where applicable, and be in the format provided for by the Finance Committee in 3-1. The Treasurer shall submit requests through the Finance Committee and Liaison to the Secretary of State through the Coordinating Committee.
+
'''5-2.1''' Standing Committees and Working Groups shall submit annual budget requests to the Finance Committee no later than January 31st of each year. Requests must be consistent with the duties and authority and thework plan of the standing committee or working group, must include income and expense projections where applicable, and must be in the format provided for by the Finance Committee in 3-1. The Treasurer shall submit requests through the Finance Committee and Liaison to the Secretary of State through the Coordinating Committee.
  
'''5-2.2''' It shall be the responsibility of the Finance Committee to compile all requests under 5-2.1 into a single document and present them in a timely manner to the Budget Committee for its work.
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'''5-2.2''' It shall be the responsibility of the Finance Committee to compile all requests under 5-2.1 into a single document, combine them into an initial draft budget and submit it to the Budget Committee. The Finance Committee and the Budget Committee shall hold a combined meeting to review this draft, and receive input and ask questions of those submitting budget requests.
  
 
'''5-2.3''' Requests for out-of-budget emergency funds may be made according to the process described 7-6.
 
'''5-2.3''' Requests for out-of-budget emergency funds may be made according to the process described 7-6.
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'''Section 5-3 Draft Budget'''
 
'''Section 5-3 Draft Budget'''
  
'''5-3.1''' During the first quarter of each calendar year, the Budget Committee shall prepare the Draft Budget. The Draft Budget shall:
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During the first quarter of each calendar year, the Budget Committee shall prepare the Draft Budget. The Draft Budget shall:
  
'''5-3.1(a)''' Incorporate planned expenses and projected income from all sources.
+
'''5-3.1''' Incorporate planned expenses and projected income from all sources.
  
'''5-3.1(b)''' Contain an Income Narrative to explain the income categories and line item projections of the budget, and provide a plan for raising that income, corresponding to the income projections;
+
'''5-3.2''' Contain an attached Income Narrative to explain the income categories and line item projections of the budget, and provide a plan for raising that income, corresponding to the income projections;
  
'''5-3.1(c)''' Contain an Expense Narrative to explain expense categories and line item projections, that identifies legal and contractual obligations as provided in Section 7-2, provides job descriptions where they exist for GPCA staff and Independent Contractors, and provides a plan to fund an Operating Reserve Fund as specified in 6-2.1(b);
+
'''5-3.3''' Contain an attached Expense Narrative to explain expense categories and line item projections, that identifies legal and contractual obligations as provided in Section 7-2, provides job descriptions where they exist for GPCA staff and Independent Contractors, and provides a plan to fund a Reserve Fund as specified in 6-2.1(b);
  
'''5-3.1(d)''' Contain a Case Statement describing the GPCA inventory of existing resources;
+
'''5-3.4''' Contain any budget approval resolutions necessary to award contacts, hire staff or independent contractors or other discretionary choices
  
'''5-3.1(e)''' Contain any budget approval resolutions necessary
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'''5-3.5''' Contain an attached balance sheet and statement of revenue and expenditure from the most recently completed fiscal year;
 
 
'''5-3.1(f)''' A balance sheet and statement of revenue and expenditure from the most recently completed fiscal year;
 
 
 
'''5-3.2''' The Finance Committee and the Budget Committee shall hold a combined meeting to review projections for the total amount of funds available for the next fiscal year and to receive input and to ask and take questions from those making budget requests under 5-2.
 
 
 
'''5-3.3''' The Finance Committee shall recommend to the Budget Committee a prudent reserve for that fiscal year's budget and explain its rationale, including how it relates to the maintenance of the party's prioritized expenses as defined in 7-2.
 
  
 
----
 
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'''Section 6-1 Contributions from Individuals'''
 
'''Section 6-1 Contributions from Individuals'''
  
''6-1.1''' Contributions from individuals will be accepted in amounts as permitted by law. All excess contributions will be returned. Individual contributions shall be reported as required by the Fair Political Practices Commission and the Federal Elections Campaign Act.
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'''6-1.1''' Contributions from individuals will be accepted in amounts as permitted by law. All excess contributions will be returned. Individual contributions shall be reported as required by the Fair Political Practices Commission and the Federal Elections Campaign Act.
  
 
'''Section 6-2 Contributions from Organizations'''
 
'''Section 6-2 Contributions from Organizations'''

Revision as of 17:02, 3 August 2011

Subject: Establishing a GPCA Fiscal Policy

Background: The budget process leading up to and occurring at the 2011 GPCA General Assembly in Berkeley exposed many inadequacies in the GPCA's budget process, some that can not be ascribed to the shortage of members and lack of participation in the Finance Committee and Budget Committee. These inadequacies range from a lack of clarity about the preparation of budget documents and information they must contain, to how much discretion to make budget-related implementation- decisions during the fiscal year the General Assembly grants to the Coordinating Committee. While attempting to achieve brevity, this proposed fiscal policy attempts to address those issues and to fill in a few additional gaps in the GPCA's fiscal policy by borrowing from a few sections of the fiscal policy of the Green Party of the United States (GPUS)

Where is the GPCA at now on these issues?

- The GPCA does not have a specific fiscal policy. In establishing one, this proposed fiscal policy would create a single, clear place to go to understand the entirety of the party's fiscal practices.

- The rules governing the GPCA's budget process and its budget committee are embedded within the bylaws for the Finance Committee, even though much of the budget process is not within the purview of the Finance Committee. This fiscal policy creates separate sections for the Finance Committee (ARTICLE III), Budget Committee (ARTICLE IV) and budget process (ARTICLE V). It also creates brief sections for Financial Management (ARTICLE IX) and Financial Reporting (ARTICLE X), codifying what have become de facto practices in both.

- There is currently a section of the GPCA bylaws defining the role of the treasurer, but this is placed into a section about committees, even though the Treasurer is not a committee. This fiscal policy creates a specific section defining the role of the treasurer (ARTICLE II), retaining the existing responsibilities from the current bylaws and making two additional changes - making explicit the responsibility to prepare and file any official reporting required by the State of California and the Federal Elections Commission, and adding an additional duty that has become a de facto practice - the signing of checks on behalf of the GPCA.

- The current Budget Committee consists of four members: two from the Finance Committee and two from the Coordinating Committee. Given the breadth of work and responsibility of the budget process, this fiscal policy expands the Budget Committee to six members, three from the Finance Committee and three from the Coordinating Committee. It also legislates against a conflict of interest by clarifying that no one may be a member of the Budget Committee who is recommended in the budget to receive funding for services provided (with one exception, see 4-2.2 below).

- The current GPCA bylaws governing expenses and disbursal of funds are contained in the Finance Committee section, even though much of the procedures involve the Coordinating Committee and Treasurer. This fiscal policy establishes a separate section (ARTICLE VII) to govern these processes. ARTICLE VII does not change the existing expenses and disbursal of funds, by simply copies them over into 7-3, 7-4, 7-5 and 7-6. ARTICLE VII also includes a new section "Section 7-2 Prioritization of Expenditures", mirroring that of the GPUS, meant to minimize the need for discretion on the party of the Coordinating Committee and Treasurer by providing clarity that the GPCA shall first meet its legal and contractual obligations and the basic party expenses to 'keep the lights on' before expending funds for other purposes.

- The GPCA currently has no policy governing from whom it will take donations. This fiscal policy clarifies that the party will accept no donations from corporations, unions or banks and will only take donations from political action committees approved of by the General Assembly (ARTICLE VI). This policy mirrors that of the GPUS, helping to create an environment of transparency that can make it easier for the GPCA to raise funds.

- The GPCA currently has no policy governing the rights and expectations of its donors. This fiscal policy creates a Donors Bill of Rights (ARTICLE VIII), mirroring that of the GPUS.


FISCAL POLICY OF THE GREEN PARTY OF CALIFORNIA

ARTICLE 1 PURPOSE

Section 1-1 Purpose

This Fiscal Policy is intended to:

1-1.1 Direct the financial practices of the Green Party of California (GPCA) and establish committees necessary to carry out this purpose.

1-1.2 Promote clarity, accountability, and transparency in the Party's fiscal and financial practices, including those of its committees, working groups, officers, employees and contractors.

1-1.3 Promote financial practices by the Party that are in compliance with all applicable laws.

Section 1-2 Definitions

The following terms are defined and used in this document:

1-2.1 Party and GPCA shall mean the Green Party of California.

1-2.2 Treasurer shall mean the treasurer of the Green Party of California.


ARTICLE II TREASURER

Section 2-1 Duties and Responsibilities

The Treasurer shall have the duties and responsibilities as provided for in this Fiscal Policy, including:

2-1.1 Account for revenues and expenditures of the GPCA.

2-1.2 Maintain bank accounts as authorized in this Fiscal Policy.

2-1.3 Make expenditures on behalf of the GPCA.

2-1.4 Prepare and present reports to the General Assembly and GPCA committees and working groups.

2-1.5 Review and approve an annual balance sheet and statement of revenues and expenditures reflecting revenues earned and obligations incurred during the previous fiscal year.

2-1.6 Serve as a voting member of the Budget Committee and the Finance Committee.

2-1.7 Sign contracts on behalf of the GPCA

2-1.8 Prepare and file any official reporting required by the State of California and the Federal Elections Commission.


ARTICLE III FINANCE COMMITTEE

Section 3-1 Duties and Responsibilities

The Finance Committee shall have the duties and responsibilities as provided for in this Fiscal Policy, including:

3-1.1 Support the Treasurer to carry out the duties and responsibilities of the Treasurer

3-1.2 Provide assistance for GPCA fundraising activities.

3-1.3 Establish a format for Requests for Payment or Requests for Reimbursement

3-1.4 Budget

3-1.4(a) Standardize the naming of budget lines for use in the annual budget process

3-1.4(b) Establish a format for standing committees and working groups to submit annual budget requests

3-1.4(c) Provide income projections for the annual budget, including income projections from work done by GPCA staff and independent contractors

3-1.4(d) Recommend to the Budget Committee a prudent reserve for that fiscal year and explain its rationale

3-1.4(e) Compile all annual budget requests and income projections, combine them into an initial draft budget and submit it to the Budget Committee.

3-1.4(a) provide an oral presentation of the written report to the General Assembly.

3-1.5 Make proposals to the General Assembly to amend this Fiscal Policy.

3-1.6 Collect funds owed to the GPCA.

Section 3.2 Membership

The Finance Committee shall be a standing committee of the General Assembly, with eight members appointed by the Coordinating Committee, including the Coordinating Committee Liaison, and the Treasurer as a voting, ex-officio ninth member. Terms shall be two years with no term limits.


ARTICLE IV BUDGET COMMITTEE

Section 4.1 Duties and Authority

The Budget Committee shall prepare and present an annual draft budget to the General Assembly. It shall be based upon the budget requests and income projections from standing committees and working groups as described in 5-2 and the prioritization of expenses as described in 7-2, and shall contain income and expense narratives that explain the purpose of each budget line item.

Section 4.2 Membership

4-2.1 The Budget Committee shall be a standing sub-committee of the General Assembly and be composed of six members: three from the Finance Committee and three from the Coordinating Committee. Members from the Finance Committee members shall include the Treasurer and two at-large members, appointed by the Finance Committee. Members from the Coordinating Committee shall include the Coordinating Committee liaison to the Finance Committee and two at-large members, appointed by the Coordinating Committee.

4-2.2 No one may be member of the Budget Committee who is recommended in the budget to receive funding for services provided, except in the case where the state Treasurer may be recommended to receive a stipend for services provided as Treasurer, in which case the Treasurer shall be recused from the separate vote whether to include the stipend in the budget, but then may otherwise vote on the Draft Budget.

4-2.3 The state Treasurer shall serve for the duration of their tenure as state Treasurer. The Coordinating Committee liaison to the Finance Committee shall serve on the budget working group for the duration of his/her tenure as liaison. The at-large Finance Committee members and the at-large Coordinating Committee members may each serve for up to three consecutive one-year terms, but then may not serve a fourth, after which this timing begins anew.

Section 4.3 Decision-making

4-3.1 The Budget Committee shall seek consensus in its work, but when unresolved, outstanding concerns remain, shall operate upon the basis of majority vote.

4-3.2 Quorum shall be at least five members, whether upon a teleconference, at a face-to-face meeting or as part of an on-line vote.

4-3.3 The Budget Committee shall have its own email list upon which to conduct committee business.


ARTICLE V ANNUAL BUDGET

Section 5-1 Annual Budget

The Annual Budget shall be approved by a two-thirds vote of the General Assembly. The Draft Budget shall be prepared and proposed to the General Assembly according to the process outlined in this Article. The General Assembly shall consider and approve the Annual Budget on the first day of the first meeting of the General Assembly following the release of the Draft Budget.

Section 5-2 Budget Requests

5-2.1 Standing Committees and Working Groups shall submit annual budget requests to the Finance Committee no later than January 31st of each year. Requests must be consistent with the duties and authority and thework plan of the standing committee or working group, must include income and expense projections where applicable, and must be in the format provided for by the Finance Committee in 3-1. The Treasurer shall submit requests through the Finance Committee and Liaison to the Secretary of State through the Coordinating Committee.

5-2.2 It shall be the responsibility of the Finance Committee to compile all requests under 5-2.1 into a single document, combine them into an initial draft budget and submit it to the Budget Committee. The Finance Committee and the Budget Committee shall hold a combined meeting to review this draft, and receive input and ask questions of those submitting budget requests.

5-2.3 Requests for out-of-budget emergency funds may be made according to the process described 7-6.

Section 5-3 Draft Budget

During the first quarter of each calendar year, the Budget Committee shall prepare the Draft Budget. The Draft Budget shall:

5-3.1 Incorporate planned expenses and projected income from all sources.

5-3.2 Contain an attached Income Narrative to explain the income categories and line item projections of the budget, and provide a plan for raising that income, corresponding to the income projections;

5-3.3 Contain an attached Expense Narrative to explain expense categories and line item projections, that identifies legal and contractual obligations as provided in Section 7-2, provides job descriptions where they exist for GPCA staff and Independent Contractors, and provides a plan to fund a Reserve Fund as specified in 6-2.1(b);

5-3.4 Contain any budget approval resolutions necessary to award contacts, hire staff or independent contractors or other discretionary choices

5-3.5 Contain an attached balance sheet and statement of revenue and expenditure from the most recently completed fiscal year;


ARTICLE VI: INCOME

Section 6-1 Contributions from Individuals

6-1.1 Contributions from individuals will be accepted in amounts as permitted by law. All excess contributions will be returned. Individual contributions shall be reported as required by the Fair Political Practices Commission and the Federal Elections Campaign Act.

Section 6-2 Contributions from Organizations

6-2.1 No contributions will be accepted from any corporation, union or bank, including non-profit corporations and not-for-profit corporations. Grants or contributions from unincorporated foundations or other unincorporated non-profit organizations will be accepted in amounts as permitted by law. Contributions from organizations shall be reported as required by the Fair Political Practices Commission and the Federal Elections Campaign Act.

6-2.2 No contribution will be accepted from a Political Action Committee without the express authorization of the General Assembly even if otherwise allowed under State or Federal law.

6-2.3 Financial or in-kind contributions from individuals who own or operate businesses, sole proprietorships, partnerships, or not-for-profit business are allowed. However, if the business is incorporated, the contribution must come directly from the person rather than through the business.


ARTICLE VII: EXPENDITURES

Section 7-1 Authority to Disburse Funds

7-1.1 The Treasurer is empowered to disburse funds for GPCA expenditures up to the limit of the approved budget line for that purpose, within the prioritization of expenses as described in 7-2 and as may additionally be imposed by the General Assembly as part of the annual budget process. The Treasurer is also empowered to disburse funds upon an emergency basis as defined in 7-6.

Section 7-2 Prioritization of Expenditures

When drawing from the General Operating Account, the GPCA shall satisfy its legal and contractual obligations first, and shall prioritize its operating expenditures in the following order:

7-2.1 Staff payroll, payroll taxes, and benefits;

7-2.2 Office rent and utilities;

7-2.3 Server Hosting, Server Backup, State phone, State Post Office box;

7-2.4 Independent contractors;

7-2.5 Other vendors that are indispensable to operations;

7-2.6 Expenditures with a reasonable expectation of a return on investment in a short period of time; and

7-2.7 Other budgeted expenditures.

Section 7-3 Requests for Payment and Reimbursement

7-3.1 Each standing committee or working group shall request budget funds by filling out either a Request for Payment or a Request for Reimbursement. Requests for Payment are requests to pay in advance for budgeted party expenses and are strongly recommended where possible. Requests for Reimbursement are for when someone has been approved of by their standing committee or working group to pay for a budgeted party expense in expectation of reimbursement.

7-3.2 Requests for Payment and Requests for Reimbursement from standing committees or working groups must be signed by at least one co-coordinator. The Coordinating Committee may designate any of its members to sign on its behalf, but if it does not do so, the default is that at least one of its co-coordinators must sign.

7-3.3 Requests for Payment shall specify the specific budget line requested and to what the budget request is doing for. Requests for Reimbursement shall specify the specific budget line to be reimbursed for and must be accompanied by copies of receipts for all expenses incurred.

Section 7-4 Disbursal of Funds

7-4.1 Upon receipt of a properly executed Request for Payment form, the Treasurer shall issue a check for the amount indicated to the designated payee.

7-4.2 In no case may the Treasurer issue funds in excess of the amount allocated any particular purpose for the fiscal year. Should a Request for Payment or a Request for Reimbursement be made above the amount budgeted, the Treasurer shall advise those requesting the funds that funds requested in excess of the annual budget amount shall be subject to the Emergency Funding provisions described in 7-6.

Section 7-5 Reporting expenditures

Following each disbursal, the Treasurer shall issue a brief statement to those making the request stating the amount of their budgeted funds disbursed in the fiscal year to date and the remaining budget allocation.

Section 7-6 Emergency funding

7-6.1 Requests for disbursal of funds exceeding the amount budgeted for a specific purpose may be made by standing committees and working groups and be considered by the Coordinating Committee on an emergency basis.

7-6.2 To authorize an emergency disbursal the Coordinating Committee must approve of a statement of findings why such an out-of-budget expenditure is in the substantial interest of the party and how it will be paid for, and must forward this approval to the Treasurer. Such findings, along with the amount and to whom shall also be included in the agenda packet of the next General Assembly after the disbursal occurred, and an oral report of the same shall be given to the plenary session on the first day of the General Assembly. Should it occur at the General Assembly in which the annual budget is considered, it should be part of the budget presentation.


ARTICLE VIII DONORS BILL OF RIGHTS

Donors to the GPCA shall have the right to:

8-1 Be informed of the GPCA purpose, of the way the Party intends to use donated resources and of its capacity to use such donations effectively for their intended purposes;

8-2 Expect the GPCA will use exercise prudent judgment in its stewardship responsibilities;

8-3 Expect that relationships with individuals representing the GPCA will be professional in nature and that information about their donation is handled with respect and confidentiality to the extent provided by the law;

8-4 Be assured that donations will be used for the purposes for which they were given. If the GPCA cannot comply with donor intentions, nor negotiate for a different purpose, the gift shall be returned to the donor;

8-5 Be informed whether those seeking donations are volunteers, employees of the GPCA or independent contractors;

8-6 Feel free to ask questions when making a donation and to receive prompt, truthful, and forthright answers.


ARTICLE IX FINANCIAL MANAGEMENT

Section 9-1 Bank Accounts

9-1.1 All funds contributed to or made payable to the GPCA, whether by cash or negotiable instruments, shall be placed on deposit in the principal accounts of the Party, which shall be maintained by the state Treasurer.

9-1.2 The General Assembly may appoint others to be co-signers of the GPCA accounts in addition to the Treasurer.


ARTICLE X FINANCIAL REPORTING

Section 10-1 Annual Report to the General Assembly by the Treasurer

The state Treasurer shall make an Annual Report to the General Assembly at which the annual budget is considered, detailing the prior year's fiscal activities and reporting upon the Fair Political Practices report(s) filed in the name of the GPCA.

Section 10-2 Monthly Reports to the Coordinating Committee by the Treasurer

The Treasurer shall, on a monthly basis, file with the Coordinating Committee a report of the fiscal activities of the Party for the preceding month.