What Is the CA 460 Report & How Do I Prepare and File It?

By |

Applies To: California

The CA 460 report discloses all receipts and expenditures for your committee. After generating the report in ISP, you can either efile the report to the state or print off a copy to sign and paper file.

What are the different versions?

On the criteria screen, you’ll see a drop down menu labeled Compliance Report Version. In this menu are various versions of the 460 you can generate.

(Paper Only): This version does not pull any signers to Section 4 – Verification on the efile or PDF

$25 Report Itemization: This version has a $25.00 Threshold instead of $100.00 for both Receipts & Expenses

$50 Report Itemization: This version has a $50.00 Threshold instead of $100.00 for both Receipts & Expenses

CA Form 460 Standard: This version has a $100.00 Threshold for both Receipts & Expenses

Itemize All: This version itemizes ALL transactions regardless of amount

Itemize All Contributions: This version itemizes ALL transactions regardless of amount on Schedules A/B/C

Self-Employed Work Address: This version pulls work address for self-employed individuals listed on Schedules A/B/C/H/I

Static Aggregate: This version calculates aggregate totals on a Static Basis (as of the end of the period) rather than Running Basis (as of the date of each transaction)

What are some of the other options?

Amended: When Amending a report, be sure to select the previously filed report from the Amended Compliance Report drop down to ensure the correct Report Number (that appears on the first page of the originally filed report) is pulled. The Amendment Number is which amendment this report is. For example, if you have already filed 2 amendments, Amendment Number would be 3. When e-filing an amendment, the Original Report Number should be the original filing ID of the ORIGINAL report rather than the filing ID of the most recent amendment.

Ending Investment Balance: This is used in the Line 18 Cash Equivalents calculation, which includes investments that cannot be readily converted to cash. (NOTE: Most common amount is “0”.) If you see a transaction with “[info]” in front of the amount, this indicates the Split transaction has no cash impact on the summary totals. The local agency will know what this refers to when they see it.

Now that I have the criteria, what next?

When you have the criteria set, click the Generate button at the bottom of the screen. The system will provide progress notes at the top of the screen until it completes and you arrive on a screen showing a success message or any errors or warnings. If you’d like to review the PDF of the report prior to filing, click the Download PDF button at the bottom of the screen.

Why are some pages blank?

If you’d like to review the PDF of the report prior to filing, click the Download PDF button at the bottom of the screen.

After you generate your CA 460, you may also notice some schedules included that have no info populating to them. This is expected. We include these blank pages on purpose, as some agencies require all schedules to ensure no schedules are missing.

With the blank schedule pages, the agency can confirm those schedules do not have any applicable transactions rather than those schedules were forgotten or intentionally excluded.

Why are there no ECTD amounts for paid or forgiven loans?

If your report includes Loans that were paid or forgiven, you will not see an ECTD amount. This is by design, as there would no longer be any outstanding amount to report.

What do I do if I’m satisfied with the results and ready to file?

Once reviewed, you can either use the eFiling option to submit the report or print it off and send it in. On the e-file screen you will provide your e-filing password.

Posted in Uncategorized