Part II
Overview of Campaign

Campaign Organization

Important Dates Friends of Clay Shaw

e Date of Registration December 30, 1980

e Audit Coverage January |, 2005 — December 31, 2006
Headquarters Deland, Florida

Bank Information

¢ Bank Depositories 1

¢ Bank Accounts 3

Treasurer

¢ Treasurer When Audit Was Conducted Gregory Wilder

¢ Treasurer During Period Covered by Audit | Gregory Wilder

Management Information

e Attended FEC Campaign Finance Seminar _| No

* Used Commonly Available Campaign Yes
Management Software Package
¢ Who Handled Accounting and Volunteer

Recordkeeping Tasks

Overview of Financial Activity
(Audited Amounts)

Cash on hand @ January 1, 2005 $ 573,001
Receipts
© From Individuals $2,701,407
o__From Political Party Committees 90,749
o From Other Political Committees 1,649,618
© Transfers from Authorized Committees 179,013
o Offsets to Operating Expenditures 11,845
_o Other Receipts 114,875
Total Receipts $ 4,747,507
Disbursements
© Operating Expenditures $5,133,955
o Refunds of Contributions to Individuals 89,481
o Refunds to other Political Committees 19,400
Total Disbursements $ 5,242,836
Cash on hand @ December 31, 2006 $ 77,672


Part I
Background

Authority for Audit

This report is based on an audit of the Friends of Clay Shaw, 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, the scope of this audit was limited to the following:

1. The consistency between reported figures and bank records; and

2. The disclosure of individual contributors’ occupation and name of employer.


Part ITI
Findings and Recommendations

Based upon a limited examination of the reports and statements filed, and the records
presented by the Friends of Clay Shaw, no material non-compliance was discovered.


FEDERAL ELECTION COMMISSION
Washington, DC 20463

October 12, 2007

MEMORANDUM

To: Robert W. Biersack
Press Officer

From: Joseph F. Stoltz *X\ SSS
Assistant Staff Director
Audit Division

Subject: Public Issuance of the Audit Report on Friends of Clay Shaw

Attached please find a copy of the audit report on Friends of Clay Shaw which was
approved by the Commission on October 5, 2007.

All parties involved have received informational copies of the report and the report
may be released to the public on October 15, 2007.

Attachment as stated

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


Report of the
Audit Division on the

Friends of Clay Shaw
January 1, 2005 — December 31, 2006

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 Campaign (p. 2)

Friends of Clay Shaw is the principal campaign committee for E.
Clay Shaw, Jr., Republican candidate for the U.S.House of
Representatives from the state of Florida, 22" District, and is
headquartered in Deland, FL. For more information, see the chart
on the Campaign Organization, p.2.

Financial Activity (p. 2)
e Receipts

o From Individuals $ 2,701,407
© From Political Party Committees 90,749
co From Other Political Committees 1,649,618
co Transfers from Other Committees 179,013
o Offsets to Operating Expenditures 11,845
o Other Receipts 114,875
o Total Receipts $ 4,747,507
e¢ Disbursements

© Operating Expenditures $ 5,133,955
o Refunds of Contributions to

Individuals 89,481
o Refunds of Contributions to Other

Political Committees (PAC’s) 19,400
o Total Disbursements $ 5,242,836

Findings and Recommendations (p. 3)

The scope of the audit was limited as outlined in Part I of the
report. Based upon a limited examination of the reports and
statements filed, and the records presented by the Friends of Clay
Shaw, no material non-compliance was discovered.


Table of Contents

Part I. Background
Authority for Audit
Scope of Audit

Part II. Overview of Campaign
Campaign Organization
Overview of Financial Activity

Part III. Findings and Recommendations
Findings and Recommendations

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