FEDERAL ELECTION COMMISSION 

WASHINGTON, D.C. 20463 

July 12, 2010 

MEMORANDUM 

To: Judith Ingram 

Press Officer~.

From: € 

Joseph F. Stoltz 

Assistant Staf irector 

Audit Divisio 

Subject: Public Issuance of the Audit Report on Team America PAC 

Attached please find a copy of the audit report on Team America PAC, which was 

approved by the Commission on July 2, 2010. 

All parties involved have received informational copies of the report and the report 

may be released to the public July 12,2010. 

Attachment as stated 

cc:	 Office of General Counsel 

Office of Public Disclosure 

Reports Analysis Division 

FEC Library 

lTD Web 
Why the Audit 

Was Done 

Federal law pennits the 

Commission to conduct 

audits and field 

investigations of any 

political committee that is 

required to file reports 

under the Federal 

Election Campaign Act 

(the Act). The 

Commission generally 

conducts such audits 

when a committee 

appears not to have met 

the threshold 

requirements for 

substantial compliance 

with the Act. 1 The audit 

determines whether the 

committee complied with 

the limitations, 

prohibitions and 

disclosure requirements 

ofthe Act. 

Future Action 

The Commission may 

initiate an enforcement 

action, at a later time, 

with respect to any ofthe 

matters discussed in this 

report. 

2 U.S.c. §438(b). 

Report of the 

Audit Division on the 

Team America PAC 

January 1,2007 - December 31,2008 

About the Campaign (p.2)
 

Team America PAC (TAP) is a non-connected, non-qualified,
 

multi-candidate Political Action Committee and is headquartered in
 

Vienna, Virginia. For more information, see chart on Committee
 

Organization, p 2.
 

Financial Activity (p. 2) 

•	 Receipts 

o From Individuals	 $ 450,812 

o Other Receipts	 35,590 

o Total Receipts	 $ 486,402 

•	 Disbursements 

0 Operating Expenditures $ 295,101 

0 Contributions to Federal 

Candidates 46,755 

0 Independent Expenditures 78,389 

0 Other Disbursements 50,413 

0 Total Disbursements $ 470,658 

Findings and Recommendations (p. 3)
 

Based upon a limited examination ofthe statements and reports
 

filed, and the records presented by the Team America PAC, no
 

material non-compliance was discovered.
 

I 
Report of the 

Audit Division on 

Team America PAC· 

January 1,2007 - December 31,2008
 
Table of Contents 

Part I. Background 

Authority for Audit 

Scope ofAudit 

Part II. Overview of Committee 

Committee Organization 

Overview ofFinancial Activity 

Part III. Summary 

Page 

1
 

1
 

2
 

3
 

4
 
1 

Part I 

Background 

Authority for Audit 

This report is based on an audit of the Team America PAC, undertaken by the Audit 

Division of the Federal Election Commission (the Commission) in accordance with the 

Federal Election Campaign Act of 1971, as amended (the Act). The Audit Division 

conducted the audit pursuant to 2 U.S.C. §438(b), which permits the Commission to 

conduct audits and field investigations of any political committee that is required to file a 

report under 2 U.S.C. §434. Prior to conducting any audit under this subsection, the 

Commission must perform an internal review of reports filed by selected committees to 

determine if the reports filed by a particular committee meet the threshold requirements 

for substantial compliance with the Act. 2 U.S.C. §438(b). 

Scope of Audit 

Following Commission approved procedures, the Audit staff evaluated various risk 

factors and, as a result, this audit examined: 

1. The disclosure of individual contributors' occupation and name of employer; and 

2. The consistency between reported figures and bank records. 
2 

Part II 

Overview of Committee 

Committee Organization 

Important Dates Team America PAC 

• Date of Registration 

• Audit Coverage 

February 17,2004 

January 1, 2007 - December 31, 2008 

Headquarters Vienna, Virginia 

Bank Information 

• Bank Depositories 

• Bank Accounts 

One 

Three 

Treasurer 

• Treasurer When Audit Was Conducted Helen Fullinwider 

• Treasurer During Period Covered by Audit Helen Fullinwider (11/20/07 - Present) 

Sharon Korchnak (1/1/07 - 11/19/07) 

Management Information 

• Attended FEC Campaign Finance Seminar No 

• Used Commonly Available Campaign 

Management Software Package 

Yes 

• Who Handled Accounting and Paid Staff 

Recordkeeping Tasks 
3 

Overview of Financial Activity
 

(Audited Amounts)
 

Cash on hand (ii} January 1, 2007 $ 2,192 

Receipts 

0 Contributions from Individuals 450,812 

0 Other Receipts 35,590 

Total Receipts $ 486,402 

Disbursements 

0 Operating Expenditures 295,101 

0 Contributions to Federal Candidates 46,755 

0 Independent Expenditures 78,389 

0 Other Disbursements 50,413 

Total Disbursements $ 470,658 

Cash on hand (ii} December 31,2008 $17,936 
4 

Part III 

Finding and Recommendation 

Based upon a limited examination of the statements and reports filed, and the records 

presented by the Team America PAC, no material non-compliance was discovered.