Report of the Audit Division on 

Forrester 2002, Inc. 

January 22,2002 - 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. 

About the Committee (p.2)
 

Forrester 2002, Inc. is the principal campaign committee for Douglas
 

R. Forrester, Republican candidate for the U.S. Senate from the state of 

New Jersey, and is headquartered in Colonia, New Jersey. For more 

information, see the chart on the Campaign Organization, p.2. 

Financial Activity (p. 3) 

• Receipts 

o Total Contributions $2,556,976 

o Loans from the Candidate 8,042,832 

o All Other Receipts 10,531 

o Total Receipts $10,610,339 

• Disbursements 

o Operating $9,979,914 

o Loan Repayments 557,832 

o Refunds of Contributions 23,060 

o Other Disbursements 32,845 

o Total Disbursements $10,593,651 

Findings and Recommendations (p. 3)
 

Based upon our examination of the reports and statements filed, and the
 

records presented by Forrester 2002, Inc., no material non-compliance
 

was discovered.
 

I 2 U.S.C. §438(b). 
Report of the 

Audit Division on the 

Forrester 2002, Inc. 

January 22, 2002 - December 31, 2002
 
Table of Contents 

Page 

1 Part I. Background 

Authority for Audit 

Scope of Audit 

Changes to the Law 

2 Part II. Overview of Campaign 

Campaign Organization 

Overview of Financial Activity 

3 Part III. Findings and Recommendations 
1 

Part I 

Background 

Authority for Audit 

This report is based on an audit of Forrester 2002, Inc., 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 disbursements, debts, and obligations. 

2. The consistency between reported figures and bank records. 

3. The completeness of records. 

4. Other committee operations necessary to the review. 

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 predates these changes. Therefore, the statutory and regulatory requirements cited in this report 

are primarily those that were in effect prior to November 7,2002. 
2 

Part II 

Overview of Campaign 

Campaign Organization 

Important Dates Forrester 2002. Inc. 

• Date of Registration January 22, 2002 

• Audit Coverage January 22, 2002 - December 31, 2002 

Headquarters Colonia, New Jersey 

Bank Information 

• Bank Depositories 2 

• Bank Accounts 4 checking accounts 

Treasurers 

• Treasurer When Audit Was Conducted Ronald Gravino 

• Treasurer During Period Covered by Audit Jill Holtzman, Ronald Gravino 

Management Information 

• Attended FEC Campaign Finance Seminar Yes 

• Used Commonly Available Campaign 

Management Software Package 

Yes 

•	 Who Handled Accounting, Recordkeeping Paid Consultant 

Tasks and Other Day-to-Day Operations 

Overview of Financial Activity 

(Audited Amounts) 

Cash on hand @ January 22, 2002 $0 

Receipts 

0 Total Contributions $2,556,976 

0 Loans from the Candidate 8,042,832 

0 All Other Receipts 10,531 

0 Total Receipts $10,610,339 

Disbursements 

0 Operating $9,979,914 

0 Loan Repayments 557,832 

0 Refunds of Contributions 23,060 

0 Other Disbursements 32,845 

0 Total Disbursements $10,593,651 

Cash on hand @ December 31, 2002 $16,688 
3 

Part III 

Summaries 

Findings and Recommendations 

Based upon our examination of the reports and statements filed, and the records presented 

by Forrester 2002, Inc., no material non-compliance was discovered.