Nova Scotia's Green party could lose provincial funding and its status as a registered political party.

Green Leader Ryan Watson confirms the party missed an important deadline for handing in financial information to Elections Nova Scotia, as required by law.

"I'm not aware of any penalties as of this point except of course if we fail to get it in, in which case the party would cease to exist," said Watson.

'We have a heightened obligation to meet the letter of the law.'—Michael Marshall, Green party candidate

The party failed to post its 2008 audited financial statements by April 30.

Dana Doiron, spokesperson for Elections Nova Scotia, said political parties must meet several deadlines, so any party that doesn't follow the rules is taking a potentially costly risk.

"The failure to disclose specific information could lead to deregistration of a party if they fail to meet the deadlines," said Doiron.

Elections Nova Scotia Canada has given the Green party less than a month to comply with its obligations.

The Green Party of Nova Scotia was officially launched in time for the 2006 provincial election. It ran candidates in all 52 districts and garnered nearly three per cent of the vote.

Since then, the registered party has received more than $307,000 in public funding. The amount is based on a formula that takes into account the number of votes received by each Green candidate.

Watson said Elections Nova Scotia knows it will have the necessary financial information once a team of party volunteers is done working on it.

"It's my responsibility to be looking at all areas and to take that responsibility," said Watson, who is paid an annual salary of $30,000 a year as leader.

"We will submit our reports and request to maintain our party status," he said. "And [Elections Nova Scotia is] giving me indications that as long as we … get all that paperwork in, that the party will remain registered."

Watson said he and the party's only other paid member were "overloaded" because of the timing of last month's election campaign.

But one longtime supporter, Michael Marshall, said it should never have been left this long. Marshall, a Green candidate in the recent election, said the party gets its money almost entirely from the province.

"The other parties get much of their revenue from their own supporters. We don't. We have a heightened obligation to meet the letter of the law," said Marshall.

He said he also wants to know why the party executive hasn't held a meeting since mid-April.

Watson said there would likely be an annual general meeting in the next few weeks, and he's expecting a leadership review. He said he would like to keep his job.

Meanwhile, Marshall and other party members are planning a meeting of their own Monday night.