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LPF Audit Committee Report - Jun 2020

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LPF Audit Committee Report - Jun 2020

by Suzanne Gilmore (Chair)

Suzanne Gilmore, Davie Parrish, Robert Enright, John Olivadoti (ex-officio), J. Mark Barfield (ex-officio)

The Audit Committee was originally created as an Ad Hoc committee of the LPF in 2018 following a decision by the EC to provide more oversight of financial transactions.  The committee was made a Standing Committee at the May 4 and 5, 2019 LPF Annual Business Meeting.

Rules Establishing and Guiding:
LPF Bylaws
ARTICLE III Standing Committees and Ad Hoc Committees
Section 1. Standing Committees

A. Standing Committees of the LPF shall include the following:
Candidate Committee
Communications Committee
Membership Committee
Platform Committee
Rules Committee
Fundraising Committee
Legislative Action Committee
Affiliate Support Committee
Audit Committee

B. Committees and Committee Chairs shall be appointed by the Chair of the LPF with the approval of the Executive Committee, unless otherwise provided in the Constitution or Bylaws. Each Committee shall consist of at least three members of the party (disregarding ex-officio members). Appointment terms shall last until the next Executive Committee election or until the committee member is removed or replaced, unless otherwise provided in the Constitution or Bylaws. Removal of persons on a committee shall need the approval of the Executive Committee. Actions of all Committees shall be reported on a regular basis to the Executive Committee. Special committees may be created by the Executive Committee and shall also follow these requirements unless otherwise provided upon their creation. The duties of all standing committees shall be stated in the Bylaws. Further clarification of duties may be added to the Standing Rules.

C. Along with a Chair, all standing committees, unless otherwise provided in the Bylaws or Standing Rules shall have a Vice Chair. Along with performing the normal duties of the committee, the committee Vice Chair shall also act in place of the committee Chair, if the Chair is absent or cannot perform the duties of the Chair.

Section. 10. The Audit Committee

The committee shall be composed of the LPF Treasurer (ex officio), LPF Vice Chair (ex officio) and a minimum of three (3) other LPF members and no committee Vice Chair. The committee shall work to ensure the proper reporting of LPF contributions and expenditures, to provide oversight to the LPF Treasurer position, and to provide overall accounting and budgeting support to the LPF and LPF committees. Specific duties shall include, but are not limited to: (1) QuickBooks (and its successors) reconciliations, (2) quarterly profit and loss statements of LPF committees, (3) reviewing FEC reports, and (4) assisting the Treasurer with selection of yearly auditor,(5) creating and maintaining documentation on best practices.

June Events:
Held committee meeting May 14 and June 18.
Committee confirmed that the 2020 Annual Corporate filing at sunbiz was handled.
Verified that Chair had forwarded appeal to DOE on fine regarding an amended Sept, 2019 filing.
Checked on status of visa for Kronotiq’s principal. Expires in 6 days. Mr. Ally is working on re-issuance. Mr. Barfield will follow-up. Right now working without contract. No further work is to be done if visa expires.
Revised categorizations for 2019 in Quickbooks as appropriate and added payees as vendors for every expenditure transaction.
Sent notice to Chair that QB was ready for CPA to begin Compilation Report.
Chair asked to send email directly to CPA and copy him. Handled.
Responded to request from CPA to re-enable access to QB for CPA. Later discovered that access not sufficient. Was unable to increase user capability to an appropriate level. Advised Chair he would need to handle as Master Admin.
Chair agreed to my starting 2020 recategorization.
Began discussions with LPF Treasurer on 2020 information for QB. Awaiting his filing of amended DOE for Q1 for specifics.
#1 - June 19, 2020, 04:14:39 PM