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As part of the Local Federal Coordinating Committee's (LFCC) oversight responsibilities of local campaigns, it must complete an assessment of the campaign's compliance with CFC regulations and OPM guidance on an annual basis. The components of this assessment are detailed in the compliance assessment guide published by OPM and available on the website. Please note that there are two different versions of the guide, one for campaigns with total receipts above $500,000 and one for campaigns with total receipts of $500,000 or less.
The Office of CFC Operations has made minor revisions to the guide this year in response to inquiries from the field. These revisions are intended to clarify the role of the LFCC and the independent certified public accountant. The only substantive change is that the auditor is no longer required to look at both the most recently completed campaign (2000 CFC in this year's case) and the most recent campaign (2001 CFC). OPM is only requiring that the auditor review financial statements relating to the most recently completed campaign (2000 CFC).
If your campaign has already begun the compliance assessment process using the previous format, it will be accepted by OPM. All campaigns must submit both the compliance assessment documents and the audited financial statements to OPM by September 16, 2002. These should be mailed to:
Office of CFC Operations 1900 E Street, NW Room 5450 Washington, DC 20415
As always, please contact our office if you have any questions or concerns.
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