Overview
In our previous audit, we found that the Office of Campaign and Political Finance (OCPF) had not ensured the accuracy of the State Election Campaign Fund (SECF) balance recorded in the Massachusetts Management Accounting and Reporting System and the Office of the State Treasurer’s (OST’s) Massachusetts Municipal Deposit Trust (MMDT) investment account. We recommended that OCPF implement a formalized fund balance reconciliation process comprising the records of OCPF, OST, and the Office of the Comptroller of the Commonwealth, to be completed at least quarterly in each nonelection year and monthly in each statewide election year, to ensure the accuracy of fund balances. We also recommended that communication among the agencies regarding the fund balances be improved and any variances identified.
During our current audit, we noted that OCPF had implemented controls and procedures for reconciling contributions and interest, including a Microsoft Excel worksheet to track contributions received by the Department of Revenue (including receipt dates) and investment interest earned in the MMDT. All variances identified were communicated to all appropriate parties and corrections were made. This issue has been resolved.
Auditee Response
l, and our staff, wish to thank you for taking the time to carefully listen to and/or read our responses to your questions during this process. The administration of the SECF, as a unique legislative creation, is not an easy concept to fully comprehend.
We are pleased that the draft audit confirms our position that the SECF is efficiently administered and that we have followed up on the issue raised from our prior audit in 2016 (see Finding 1).
We look forward to the next statewide election in 2022 and the continued efficient administration of the SECF.
| Date published: | April 1, 2019 |
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