The Electoral Commission (EC), on Thursday presented a memorandum on the recommendations for the funding of political parties to President John Evans Atta Mills, at the Osu Castle, Accra.
Dr Kwadwo Afari Gyan, Chairman of EC, two deputy chairmen of EC other senior staff of the Commission were at the Castle to present the document.
The meeting, which later went into a closed-door session, was at the instance of the EC, Presidential Spokesperson, Mr Mahama Ayariga told journalists.
He said the memo provided a formula for the funding of political parties by Government.
According to Mr Ayariga, the document was also presented to former President John Agyekum Kufuor, and it provided suggestions on how monies were to be sourced into the fund, as well as its management and distribution.
He said ideas in the memo were drawn from a consensus reached by political parties and civil society groups.
Mr Ayariga said the memo also provided for the eligibility for the funding which included the ability for a political party to garner one per cent of votes after elections, number of women as candidates for political parties, but excluded independent presidential candidates.
Sources of monies into the fund include the State, donor community, corporate bodies and individuals.
The memo also discussed proposals for the review of structures of elections at the district, zonal and unit levels.
Mr Ayariga said President Mills commended the Chairman and the Commission for their role in the peaceful elections last year.
He said the proposed reforms were within the manifesto of the ruling National Democratic Congress (NDC), and would be open for a national debate, with a view for constitutional review as promised by President Mills.
In another development, President Mills, would begin a two-day official visit to the Central Region from Friday, September 11.
Mr Ayariga told journalists that the President would during the visit meet the Omanhene, chiefs and elders of Akyempim State and attend a durbar of the chiefs and people of the Ekumfi Traditional Area.
He would also meet Chief Fishermen and Prime Landing Committees in Cape Coast and participate in the Boribori Fante Akwambo Festival at the Mankessim Lorry Park.