Part I
Background

Authority for Audit

This report is based on an audit of Tim Bishop for Congress, 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 factors and as a
result. this audit examined:

The receipt of excessive contributions and loans.

The receipt of contributions from prohibited sources.

The disclosure of contributions received.

The consistency between reported figures and bank records.

The completeness of receipt records.

Other committee operations necessary to the review.

auUPHLr

Changes to the Law

On March 27, 2002, President Bush signed into law the Bipartisan Campaign Reform Act of
2002 (BCRA). The BCRA contains many substantial and technical changes to the federal
campaign finance law. Most of the changes became effective November 6, 2002. Except for
November 7. 2002, through December 31, 2002. the period covered by this audit pre-dates these
changes. Therefore, the statutory and regulatory requirements cited in this report are primarily
those that were in effect prior to November 7. 2002.


Table of Contents

Part I. Background
Authority for Audit
Scope of Audit
Changes to the Law

Part Il. Overview of Campaign

Campaign Organization
Overview of Financial Activity

Part I. Findings and Recommendations

Page

toa

we


Part II
Overview of Campaign

Campaign Organization

Important Dates Tim Bishop for Congress

e Date of Registration April 1, 2002

© Audit Coverage March 25, 2002 ~ December 31. 2002
Headquarters Coram, New York

Bank Information

12

e Bank Depositories 1

e Bank Accounts i checking account
Treasurer

Treasurer When Audit Was Conducted Susan Taylor

® Treasurer During Period Covered by Audit Susan Taylor

Management Information

Attended FEC Campaign Finance Seminar No

e Used Commonly Available Campaign Yes
Management Software Package
e Who Handled Accounting and Paid Staff

Recordkeeping Tasks

Overview of Financial Activity

(Audited Amounts}
|
Cash on hand @ March 25, 2002 $0
co Receipts from Individuals 749,749
o Receipts from Political Committees 28,700
© Receipts from PACs and other Commitices 198,526
Total Receipts l $ 976,975
© Operating & Other Disbursements $966,706
Total Disbursements $ 966,706
Cash on hand @ December 31, 2002 $ 10,269



FEDERAL ELECTION COMMISSION
Washington, DC 20463

August 28, 2003

MEMORANDUM

TO: RON M. HARRIS
PRESS OFFICER
PRESS OFFICE

-

FROM: JOSEPH F. STOLTZ EZ
ASSISTANT STAFF CTOR
AUDIT DIVISION

SUBJECT: PUBLIC ISSUANCE OF THE AUDIT REPORT ON TIM BISHOP FOR
CONGRESS

Attached please find a copy of the audit report and related documents on
Tim Bishop for Congress, which was approved by the Commission on August 18, 2003.

The report may be released to the public on August 29, 2003.

Attachment as stated

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


Part III
Findings and Recommendations

Based upon our examination of the reports and statements filed, and the records presented by
Tim Bishop for Congress. no material non-compliance was discovered.


Report of the Audit Division

On Tim Bishop for Congress
March 25, 2002 - December 31, 2002

Why the Audit

Was Done

Federal law permits 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.! The audit
determines whether the
committee complied with
the limitations,
prohibitions and
disclosure requirements
of the Act.

Future Action
The Commission may
initiate an enforcement
action, at a later time.
with respect to any of the
matters discussed in this
report.

' 2US.C. §438(b)

About the Committee (p. 2)

Tim Bishop for Congress is the principal campaign committee for
Tim Bishop, Democratic candidate for the U. S. House of
Representatives from the state of New York. 1 District, and is
headquartered in Coram, New York. For more information, see
the chart on Committee Organization, p.2.

Financial Activity (p. 2)
« Receipts

o From Individuals $ 749,750
o From Political Committees 28.700
o From PACs and Other

Committees 198.525
o Total Receipts $ 976,975

« Disbursements

o Operating & Other

Disbursements $966.706
o Total Disbursements $ 966.706

Findings and Recommendations (p. 3)

Based upon our examination of the reports and statements filed,
and the records presented by Tim Bishop for Congress, no
material non-compliance was discovered.


Report of the
Audit Division on
Tim Bishop for Congress

March 25, 2002 - December 31, 2002