14

One. Political parties must keep detailed ledger books of accounts in a way that they always show the political party's financial situation and its compliance with the obligations established in this Law.
Two. The treasury, inventory and balance sheet ledgers must contain, in accordance with generally accepted accounting principles:
a) The annual inventory of all the assets.
b) The revenue account, which is to include at least the following categories of revenue:
- The global amount of the fees and contributions received from its members.
- The revenue from its own assets.
- The revenue from the donations referred to in article 4 of this Law.
- The public subsidies.
- The revenue from the party's activities.
c) The expenditure account, which is to include at least the following categories of expenses:
- Personnel expenses.
- Expenses from the acquisition of goods and services (current).
- Financial expenses from loans.
- Other administration expenses.
- Expenses from the party's activities.
d) The capital transactions related to:
- Credits or loans from financial institutions.
- Investments.
- Debtors and creditors.
Three. The highest management body of political parties which receive any of the public subsidies established in article 3 of this Law is obliged to present the annual accounts for each financial year, itemising and documenting the party's income and expenditure.

Four. The consolidated annual accounts shall extend to the state, autonomous region, regional and provincial spheres. The consolidated annual accounts of federations and coalitions of parties are to include those of the federated and coalesced parties.
Five. The annual accounts shall include the balance sheet, the profit and loss account and an explanatory report of both the latter. In any case, the report is to include a list of the public subsidies and the private donations received from natural or legal persons, specifically providing the identification details of each donor and the amount of the capital received.
The report must also include an annex specifying in detail the stipulated contract conditions of the credits or loans of any kind held by the party with financial institutions. The annex must provide the identification details of the lending financial institution, the amount of the credit or loan, the interest rate, the amortisation period of the credit or loan and the debt outstanding at the end of the respective financial year, providing any relevant contingency concerning the fulfilment of the agreed conditions.
Six. Notwithstanding that provided in the previous paragraph, in rendering the accounts to the parliamentary groups of Parliament, the legislative assemblies of the autonomous regions, the general assemblies of the historical Basque territories and the local councils, political parties should adhere to that established in the respective specific regulations or local legislation.
Seven. The duly formalised consolidated annual accounts shall be sent to the Court of Auditors prior to 30 June of the year following the one the accounts make reference to.