I

Informational copies of the report have been received

by ~ll parties involved and the report may he released to

the public .

,c l ,

January 10, 1980

PUBLIC ISSUANCE OF AUDIT REPORT -

VISION POLITICAL ACTIO~ COMMITTEE

FRED EILAND

PRESS OFFIC~ /

BOB COSTA '1'-"'"

JUDY HAWKINS ..

\\',''>IIINI,ION.!>C lCl4h\

FEOI RAL ELECTION COMMISSION

cc: FEe Library

RAD . Public Record

Attachment as stated

Attached please find a copy of the final audit report

of the Vision Political Action Committee which was approved

by the Comnlission on December 12, 1979.

SUBJECT:

FROM:

THROUGH:

ME~ORANDUM

TO:

•

•

....'
•

...

-

•

FEDERAL ELECTION COMMISSION

WASllINl;'"N. DC 204b~

REPORT OF THE AUDIT DIVISION

ON TilE

VISION POLITICAL ACTION COMMITTEE

I. Background

A. Overview

This report is based on an aUdit of the Vision

Political Action Committee (lithe 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 (lithe 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 originial.ly registered with the Fed<:.'ral

Election Commission on December 12, 1977 as Varo Political

Action Committee. The Committee is connected with Varo, Inc.

and its subsidaries which is located in Garland, Texas. On

January 19, 1979 the Committee filed with the Federal Election

Commission an amended statement of organization changing its name

to Vision Political Action Committ(~e•

The audit covered the peri od from November 29, 1977

through September 30, 1979, the final coverage date of the latest

report filed by the Committee at the time of the audit. The

Con~ittee reported a beginning cash balance on November 29, 1977

of -0-, total receipts for the period of $8,899.44, total

expenditures for the period of $1,206.62, and a closing cash

b,11.:1I1CC on September 30, 1979 of $7,692.82.

This audit report is based on documents and working p;li'r~l-S \oJhich support each of its factual statements. They form

p.ll- t of the record upon which the Commission based its decisions

on the matters in this report and were available to Commissioners

and appropriate staff members for review•
. C. . Scope.·

B. Key Personnel

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II. Finding and Recommendation

Based upon examination of the reports and statements filed

and the records presented by the Vision Political Action Committee,

no material problems in complying with the Federal Election Campaiqn

Act were discovered dnring the course. of,the audit.

The audit included such tests as verification of totai.

receipts and expenditures; review of required supporting documentation; analysis of Committee debts and obligations; and such other

audit procedures as deemed necessary under the circumstances.

The principal officers of the Committee during the

period covered by the audit were Mr. Samuel T. Yanagl.sawa, '·h~ir.man; and Mr. Donald A. Nichols, Treasurer from November 29,

.L97/, through August 20, 1979; and Mr. John B. Conck1in, Jr.,

':'rcasurer .from Auqust 20, 1979, until the present•

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