Shape up your PAC for the new year
The start of a new year is an ideal time to conduct a compliance check of your political action committee (PAC). While the eight action items below should be part of your ongoing PAC procedures, we recommend a focused review of these items annually:
- Calendar 2018 filing deadlines. See our updated Reporting Deadlines chart for this information.
- Check your Federal Statement of Organization form and/or Ohio Designation of Treasurer form. Is all of the information still current?
- Are your PAC bylaws or other governing documents up to date? Are they being followed?
- Are there any new employees helping with PAC activities this year? Have they been fully trained on their duties, and do they understand the goals of the PAC?
- If you have a PAC board, have they been apprised of PAC activities throughout the year? Are new members properly trained on the PAC’s mission and operations?
- Check your solicitation materials. Do they have the proper disclaimers?
- Best practices call for a check and balance system, where two individuals authorize disbursements over a certain amount. Did that occur on all relevant 2017 transactions?
- And perhaps most importantly, be sure someone other than the person responsible for day-to-day PAC activities reconciles PAC reports with your bank statement.
This is for informational purposes only. It is not intended to be legal advice and does not create or imply an attorney-client relationship.
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