TABLE OF CONTENTS

RYDER EMPLOYEES POLITICAL ACTION COMMITTEE

Page

Final Audit Report 1
Background 1
Transmittal to Committee 3

Chronology 5


Page 4 of 5
Approved 07/11/2002


A01-23
FEDERAL ELECTION COMMISSION

WASHINGTON, D.C 20463

REPORT OF THE AUDIT DIVISION
ON
RYDER EMPLOYEES POLITICAL ACTION COMMITTEE

L BACKGROUND

A. AUDIT AUTHORITY

This report is based on an audit of the Ryder Employees Political Action
Committee (Ryder), the separate segregated fund of Ryder System Inc., undertaken by the
Audit Division of the Federal Election Commission (FEC) in accordance with the
provisions of the Federal Election Campaign Act of 1971, as amended (the Act). The
audit was conducted pursuant to Section 438(b) of Title 2 of the United States Code,
which states, in part, that the Commission may conduct audits and field investigations of
any political committee required to file a report under section 434 of this title. Prior to
conducting any audit under this subsection, the Commission shall perform an internal
review of reports filed by the selected committees to determine if reports filed by a
particular committee meet the threshold requirements for substantial compliance with the
Act.

B. AUDIT COVERAGE

The audit covered the period from January 1, 1999 through December 31,
2000. During this period, Ryder reported a beginning cash balance of $1,602; total
receipts for the period of $109,422; total disbursements for the period of $109,323; and
an ending cash balance of $1,701.

Cc. CAMPAIGN ORGANIZATION

Ryder registered with the Federal Election Commission on March 6, 1978
as the Ryder Committee for Effective Government. On October 20, 1980, its name was
changed to the Ryder System, Inc. Committee for Effective Government; and on January
18, 1994, its name was changed to the Ryder Employees Political Action Committee.
The Treasurer for Ryder during the audit period was Mr. Anthony Tegnelia. The current
Treasurer is Richard G. Rodick. Ryder maintains its headquarters in Miami, Florida.

To manage its financial activity, Ryder maintained one bank account
during the audit period. It made 115 disbursements totaling $108,823 '. Ryder received

! The Audit staff noted minor discrepancies between bank activity and reported activity for both

disbursements and receipts.
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FEDERAL ELECTION COMMISSION
WASHINGTON DC 20463 A01-23

July 11, 2002

Mr. Richard G. Rodick, Treasurer

Ryder Employees Political Action Committee
3600 N.W. 82" Avenue

Miami, FL 33166

Dear Mr. Rodick:

Attached please find the Report of the Audit Division on Ryder Employees Political
Action Committee. The Commission approved the report on July 11, 2002.

The Commission approved Final Audit Report will be placed on the public record
on July 17, 2002. Should you have any questions regarding the public release of the report,
please contact the Commission's Press Office at (202) 219-4155.

Any questions you have related to matters covered during the audit or in the report
should be directed to Philomena Brooks or Alex Boniewicz of the Audit Division at (202)
694-1200 or toll free at (800) 424-9530.

— ’ -
j} -_/

wh

/

at :
/ Joseph F. Stoltz ‘a
Assistant Staff Director -

Audit Division

Attachment as stated

Page 3 of 5
Approved 07/11/2002


FEDERAL ELECTION COMMISSION

WASHINGTON, D.C. 20463

July 17, 2002

MEMORANDUM
TO: RON M. HARRIS
PRESS OFFICER
PRESS OFFICE
A
FROM: JOSEPH F. STOLTZ +

ASSISTANT STAFF 4 CTOR
AUDIT DIVISION /

SUBJECT: PUBLIC ISSUANCE OF THE AUDIT REPORT ON
RYDER EMPLOYEES POLITICAL ACTION COMMITTEE

Attached please find a copy of the audit report and related documents on
Ryder Employees Political Action Committee, which was approved by the Commission on
July 11, 2002.

All parties involved have received informational copies of the report and the report
may be released to the public.

Attachment as stated

ce: Office of General Counsel
Office of Public Disclosure
Reports Analysis Division
FEC Library




CHRONOLOGY

RYDER EMPLOYEES POLITICAL ACTION COMMITTEE

Audit Fieldwork May 28 -
June 6, 2002
Exit Conference June 6, 2002
Final Audit Report Approved July 11, 2002
Page 5 of 5

Approved 07/11/2002


contributions from individuals of $109,958 the majority of which were collected through
payroll deduction. Ryder utilized common accounting software as well as a custom
designed campaign management application to prepare and file its reports. Accounting,
recordkeeping and reporting functions were performed by volunteer Ryder employees.
Neither the Treasurer nor any of the Ryder staff have attended an FEC seminar.

D. AUDIT SCOPE AND PROCEDURES

The Audit included testing of the following general categories:

1 the receipt of contributions or loans in excess of the statutory
limitations;
2. the receipt of contributions from prohibited sources, such as those

from corporations or labor organizations;

3. proper disclosure of contributions from individuals, political
committees and other entities, to include the itemization of
contributions when required, as well as, the completeness and
accuracy of the information disclosed;

4 proper disclosure of disbursements including the itemization of
disbursements when required, as well as, the completeness and
accuracy of the information disclosed;

5 proper disclosure of committee debts and obligations, including
loans;
6. the accuracy of total reported receipts, disbursements and cash

balances as compared to bank records;

7 adequate recordkeeping of committee transactions; and

8 other audit procedures that were deemed necessary in the situation.

As part of the Commission’s standard audit process, an inventory of Ryder
records was conducted prior to the audit fieldwork to determine if its records were
materially complete and in an auditable state. Based on our review of the records
presented, it was concluded that they were materially complete and fieldwork began
immediately.

I. AUDIT FINDING AND RECOMMENDATION

Based upon our examination of the reports and statements filed, and the records
presented by Ryder, no material non-compliance was detected.

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Approved 07/1 1/2002





REPORT OF THE AUDIT DIVISION
ON

Ryder Employees Political
Action Committee

Approved July 11, 2002

FEDERAL ELECTION COMMISSION
999 E STREET, N.W.
WASHINGTON, D.C.