Attachment as stated

November 20, 1979

PUBLIC ISSUANCE OF AUDIT REPORT -

CAMPAIGN VIC'l'ORY FUND - DNC

, ,

BOB COSTA ~~ JUDY HA\VKHIS)''-''''

FRED EILAND

PRESS OFFICE

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FEDERAL EL.ECTION COMMISSION

Informational copies of the re~ort have been received

by all parties involved and this report may be released to

the public.

cc: FEe Library

R.i.\D

.public Record

Attached please find a copy of the final audit report

of the Campaign Victory Fund - D~C which was approved by

the Commission on November 8, 1979.

SUBJECT:

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HDERAI II rCTION COMMISSION

The Committee maintains its headquarters in

Washington, D.C. The audit covered the period July 1, 1976,

the date of the first conunittee report filed, through March 31,

1977, the Committee's date of termination. ~he Committee

reported a beginninq cash balance at July 1, 1976, of $-0-;

total receipts for the period of S2,706,818.58; total expenditUI"(~S for the period of $2,706,818.58 and a closing cash

halance at March 31, 1977 of $-0- .

The Committee registered with the Federal Election

Commission on July 29, 1976 as an affiliate of the Democratic

National Committee. 1/ As an affiliate of the Democratic

National Ccmmittee, atl administrative expenses of the Committee

were paid by the DNC Services Corps which serves as the source

for disbursements of administrative costs for all affiliates.

The Committee's original name was Presidential Victory Fund -

DNC but was later changed to Campaign Victory Fund - DNC.

This report is based on an audit of the Campaign

Victory Fund - DNC (lithe Committee") undertaken by the Audit

Division of the Federal Election Commission in accordance

with the Commission's audit policy, to determi.ne whether

there has been compliance with the provisions of the Federal

Election Campaign Act of 1971, as amended ("tlw l\ct"). The

~udit was conducted pursuant to Section 438(<1) (8) of Title 2

of: the United States Code '<lhich directs the Commission to

make from time to time audits and field investigations with

respect to reports and statements filed under the provisions

of the l\ct.

A. Overview

.!/ The Committee's first report covered the period

July 1, 1976 through September 30,1976.

REPllRT OF THE AUDIT n:."' 'ISION

ON THE

Cl\HPAIGN VICTORY FUND - DNC

I. Background

.' '.
•

•

-2-

This audit report is based on documents and working

papers supporting each of its factual statements. They form

part of the record upon which the Commission based its decisions on the matters in this report and were available to

Commissioners and appropriate staff for review.

B. Key Personnel

'rhe pr incipal officers of the Coromittee were Mr.

Robert S. Strauss, Chair.man; and Mr. S. Lee Kling, TreaSUrel",

during the period of the audit.

C. Scope

Th0 audit included SUCll tests as verification of

totul reported receipts and expenditures and individual transactions, revie\v of requin~d supportinq documentation and

analysis of Committee debts and obliqations; and such other

audit procedures as deemed necessary under the circumstances.

II. Findinq und Recommendiltion

It is the opi.nion o[ the' l\udit staff, based upon examination of the reports ilnd stat.ements filed and the records presentc:d,

th.lt t!~c reports and stutemcnts of the Cumpaign Victory Fund - D::C

f~lirly present the fl nunc].al activities of the Committee for the

peri oc1 covered by the audi t. No materia 1 problems in complying

with th0 Federal Election Campaign l\ct W0re discovered during the

courS0 of the audit.