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REPORT OF TUE AUDIT DIVISION

ON THE

LARRY PRESSLER FOR CONGRESS COMMITTEE

I. Backgt·ound

A. Overview

This report is based upon the audit of the Larry Pressler for Congress Committee ("the Committee") undertaken

by the Audit Division of the Federal Election Commission in

accordance with the Commission's audit policy to determine

whether there has been compliance with the provisions of the

Federal Election Campaign Act of 1971, as amended ("the

Act"). The audit was conducted pursuant to Section 438(a)(8)

of Title 2 of the United States Code which 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 Act.

The Committee originally registered with the Clerk

ofthe H0 use 0 f Rep res en tati ves, 0 n r-1 a.Y 23. 19 74 asap0 1i tic a1

committee supporting the Honorable Larry Pressler, candidate

for the U.S. House of Representatives from the 1st District

of South Oakota. The Committee maintains its headquarters in Humboldt, South Dakota .

The audit covered the period January 1, 1975, the

effective date of the Act as amended. through June 30, 1977,

the final coverage date of the latest report filed by the Committ~e at the time of the audit. During that period, the

Committee reported beginning cash-an-hand of $269.57, total

receipts of 5157,732.58, total expenditures of $145,160.63

and ending cash-on-hand of $12,841.52.

This audit report is based on documents and working

papers suppor'ting each of its factual statements. They form

part 0 f the t.. ecord upo n \'J t, i ch the Co mm iss ion bas ed its

dec i sion 0 nthe IIIa t t e t·sin the rep 0 r tand we rea va i 1ab1e to

Commi 5S i oncrs and aJ>propri a te s ta ff for revi eWe

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B. Key Personnel

The principal officers of the Committee were Ken

Stofferohn. Chairman, and Albert Brehke. Treasurer, during the period Janudry 1. 1975 through September 16, 1975, and

Alfred Redlin, Chairman, and Don Lias, Treasurer from

September 16, 1975 through the close of the audit period.

C. Sco~

The audit included such tests as verification of

reported receipts and expenrlitures and individual transactions;

review of required supporting documentation and analysis of

Committee debts and obligations; and such other audit proce- dures as deemed necessary under the circumstances.

II. Auditor's Statement

It is the opinion of the Audit staff, based upon examination of the reports and statements filed and the records pre- sented, that the reports and statements of the larry Pressler

for Congress Committee fairly present 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.

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