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.