, ,~ ,

MEMORANDUM

TO:

FROM:

FEDERAL ElECTION COMMISSION

\\ ~SHINGTON 0 C 204&3

February 20, 1990

FRED EILAND

CHIEF

PRESS OFFICE

ROBERT J. COSTA J

ASSISTANT STAFF D{R~~ AUDIT DIVISION

IIh000749

SUBJECT: PUBLIC ISSUANCE OF THE FINAL AUDIT REPORT ON

QUAYLE FOR VICE PRESIDENT - 1988

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Attached please find a copy of the Final Audit Report on

Quayle for Vice President - 1988 which was approved by the

Commission on January 31, 1990.

Informational copies of the report have been forwarded to

all parties involved and the report may be released to the public.

Attachment as stated

cc: Office of General Counsel

office of Public Disclosure

Reports Analysis Division

FEC Library
QFP /011090

FE DE RAL ELECTION COMMISSION

WASHINCTON 0 C 204&3

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........

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FINAL REPORT OF THE

AUDIT DIVISION

ON

QUAYLE FOR VICE PRESIDENT - 1988

I. Backaround

A. Overview

This report is based on an audit of Quayle for Vice

President - 1988 (~the Committee~) to determine whether there has

been compliance with thp provisions of the Federal Election

Campaign Act of 1971, as amended ("the Act~). The audit was

conducted pursuant to 26 U.S.C. 9007(a) which states that "after

each presidential election, the Commission shall conduct a

thorough examination and audit of the qualified campaign expenses

of the candidates of each political party for President and Vice

President."

In addition, 26 U.S.C. SS 9009(b) and 9039(b) state, in

relevant part, that the Commission may conduct other examinations

and audits from time to time as it deems necessary to carry out

its responsibilities under these chapters.

The Commlttee registered with the Federal Election

Commlssion on August 30, 1988 and maintains its headquarters in

Indianapolis, Indiana.

The audit covered the period August 24, 1988 through

June 30, 1989. The Committee reported an opening cash on hand

balance on August 24, 1988 of $ -0-: total receipts of

$73,444.06: total disbursements of $51,771.31: and a closing cash

balance on June 30, 1989 of $21,672.75.

The receipt and expenditure activity of the Committee

related to the attendance of Vice President Quayle at the

Republican convention.

This report is based upon documents and workpapers

which support each of the factual statements. They form part of

the record upon which the Commission based its decisions on the

matters in the report and were available to Commissioners and

appropriate staff for review.
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B. Key Personnel

Tne Treasurer of the Comm~ttee during the period of the

audit was Mr. William R. Neale.

C. Scope

The audit included such tests as verification of total

reported receipts, disbursements and individual transactions:

review of requi~ed supporting documentation: analysis of

Committee debts and oblig~tions: review of contribution and

expenditure limitations: and such other audit procedures as

deemed necessary under the circumstances.

II. Audit Finding and Recommendation

The receipt and disbursement activity of the Committee

only involved convention related expenses of the eventual Vice

Presidential nominee and is considered separate and apart from

the respective primary and general election campaigns of the

Presidential nominee.

It is the opinion of the Audit staff, based upon examination

of the reports and statements filed and the records presented, that the reports and statements of Quayle for Vice President - 1988 present fairly the financial activities of the Committee for

the period covered by the audit. No material problems in

complying with the Federal Election Campaign Act were discovered

during the course of the audit.