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PUBLIC ISSUANCE OF AUDIT REPORT -

MINNESOTA INDEPENDENT REPUBLICAN

FINANCE COMMITTEE

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FEDERAL ElECTION COMMISSION'

',' As of .. this' date, ,all informational. copies of the report

have been received by all parties involved and this report may

be released to the public.

Attachment as stated

cc: FEe Library

Ri\D

Y'ublic Record

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April 17,,1979

14EHORANDUM'

'SUBJECT:

Attached pleasefind'acopy of the final audit report

of the f.1innesota Independent Republican Finance Committee ,"

'\vhich '.vas. approved by the Commission on' April 4, 1979.,·' '"

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" PRESS OFFICE ,

THROUGH: .. . . ... BOil COS'rA . ..•..

.FRQr.1: ' : ,JUDY HAWKINS :

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Fl.DERAL ELECTION COMMISSION

Background

A. Ov(~rview

REPORT OF THE AUDIT DIVISION

ON THE

MINNESO'I'J\ INDEPENDENT REPUBLICAN FINANCE COMMIT'1'EJo:

The audit covered the period from January 1, 1976

through June 30, 1978, the final coverage date of the latest

report filed by the Committee at the time of the aUdit. Durins:

this period lhe Committee reported a bcqinning cash balance of

$1,665.16, total receipts of $3,182,252.01, total expenditures

of $3,144,400.48 and a closing cash balance of $39,516.69.

This audit report is based on documents and working

papers which support each of the factual statements. They

form part o[ the record upon which the Commission based its

decisions on the matters in the report and were available to

Commissioners and appropriate staff for. reviC\v •

This report is based on an audit of the

Minnesota Independent Republican Finance 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

.:tmended ("the Act"). The audit was conducted pursuant to

Soction 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.

'I'he Committee registered wi th the Office of the Clerk,

United States lIouse of Representatives on April 17, 1972 as the

Hinnesota Republican Finance Committe0. On August 16, 1977, the

Committee filed an amended Statement of Organization-reflecting

a change of name to the Minnesota Independent Republ.(can Finance

Committee. The Con~ittee maintains its headquarters in St. Paul,

Hinnesota •

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C. Scope

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It is the opinion of the Audit staff, based upon examination

of the reports and statements filed and records presented, the

reports and statement.s of the Hinnesota Independent Republican

Finance Committee fairly present the financial activities of the

Committee for the period covered by the aUdit. No m.terial

problems in complying with the Federal Election campaign Act

were discovered during the course of the audit•

II. Auditor's Statement

B. Key Personnel

The audit included such tests as verification of

reported receipts and expenditures and individual transactions;

review of required supporting documentation and analysis of

Committee debts and obligations; and such other audit procedu~es

as deemed necessary under the circumstances.

The principal officers of the Committee were Rick L.

McElheny, Chairman from January 1, 1976 through September 24,

1976; Clifford C. Sommer, Chairman from September 24, 1976

through August 16, 1977; Frank P. Leslie, Jr., Chairman, from

August 16, 1977 through the present; and Delwyn E. Olson,

Treasurer from January 1, 1976 through the present.

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