Subd. 1. Accounts; penalty.

The treasurer of a political committee, political fund, principal campaign committee, or party unit must keep an account of:

1. (1) the sum of all contributions, except any donation in kind valued at $20 or less, made to the committee, fund, or party unit;
2. (2) the name and address of each source of a contribution made to the committee, fund, or party unit in excess of $20, together with the date and amount of each;
3. (3) each expenditure made by the committee, fund, or party unit, together with the date and amount;
4. (4) each approved expenditure made on behalf of the committee, fund, or party unit, together with the date and amount; and

5. (5) the name and address of each political committee, political fund, principal campaign committee, local candidate, or party unit to which contributions in excess of $20 have been made, together with the date and amount.

   Any individual who knowingly violates this subdivision is subject to a civil penalty imposed by the board of up to $1,000.

Subd. 2. Receipts.

The treasurer must obtain a receipted bill, stating the particulars, for every expenditure over $100 made by, or approved expenditure over $100 made on behalf of, the committee, fund, or party unit, and for any expenditure or approved expenditure in a lesser amount if the aggregate amount of lesser expenditures and approved expenditures made to the same individual or association during the same year exceeds $100.