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FEDERAL ELECTION COMMISSION·

WASHINGTON, 0 C 204&3

MJ000682

March 1, 1990

MEMORANDUM

TO:

FROM:

FRED EILAND

CHIEF, PRESS OFFICE

ASSISTANT

ROBERT J. COSTA

STAFF DI~~ ~~ AUDIT DIVISION

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SUBJECT: PUBLIC ISSUANCE OF FINAL AUDIT REPORT - BENTSEN FOR VICE PRESIDENT - 88

Attached please find a copy of the final audit report on

Bentsen for Vice president - 88, which was approved by the

Commission on February 23, 1990.

Informational copies of the report have been received by all

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

Attachment as stated

cc: FEC Library Reports Analysis Division

Public Disclosure

Office of General Counsel
FEDERAL ELECTION COMMISSION

BFP /022090

REPORT OF THE AUDIT DIVISION

ON

BENTSEN FOR VICE PRESIDENT - 88

I. Background

A. Overview

This report is based on an audit of Bentsen for Vice

President - 98 ("the Committee") to determine whether there has

been compliance with the provisions of the Federal Election

Campaig n Act of 1971, as amended (ft the Act"). The audi t ·,olas

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

- each p::-esidential 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."

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

relevant part, that the Commission may conduct other examinations

and audi t s f rom time to time as it deems nec essary to carry out

its responsibilities under these chapters.

The Committee registered with the Federal Election

Commission on July 22, 1988 and maintains its headquarters in

Hous ton, 'i'exas.

The audit covered the period from the Committee's

incept ion (J ul y 198 S) th rough March 31, 1989. JU ring this

period, :he Committee reported an opening cash balance of $0,

total receipts of $27,257.67, total disbursements of $27,257.67,

and a closing cash balance of $0.

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

Pres iaential nominee.

'!'hi s ret:Q r t is based upon doc umen ts and workpape r s

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

the record upon whi ch the Commiss ion based its d ecis ions 0 n the

matters in the report and were available to Commissioners and

appropr i ate sta f f for rev iew.
B. Key Personnel '.

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The Treasurer of the Committee during the period of the

audit was Mr. ~reston M. Geren III.

C. Scope

The audit included such tests as verification of total

reported receipts, disbursements and individual transactions:

review of required supporting documentation: analysis of

Committee debts and obligations: review of contribution and

expenditure limitations: and such other audit procedures as

deemed necessary under the circumstances.

II. Audit Finding and Recommendation

A matter noted during the course of the audit has been

referred to the Commission's Office of General Counsel.