CFC MEMORANDUM 2008-02

February 11, 2008

The attached Combined Federal Campaign (CFC) Audit Guide (Guide) provides the requirements and guidance for the completion of the audit in accordance with CFC regulations at 5 CFR § 950.105(d) (9).  This section requires Principal Combined Fund Organizations (PCFO) to submit to the Local Federal Coordinating Committee (LFCC) an audit of its collections and disbursements for each campaign managed.   The audit must be conducted by an independent certified public accountant (IPA) in accordance with generally accepted auditing standards and Office of Personnel Management (OPM) guidance.

There are three versions of the Guide according to the level of pledges managed by the campaigns:

• Pledges less than $150,000;
• Pledges between $150,000 to $999,999; and

• Pledges of $1 million and greater.

Select the Guide that fits your campaign size based on your 2006 campaign actual pledges.  These Guides are available on the CFC website at www.opm.gov//cfc/Audit-Compl/2008/index.asp in both a Microsoft Word and Adobe Acrobat version.

Minor revisions were made to the 2008 Guide to update references and refine procedures based on comments from the stakeholders.   These are described in the attached Executive Summary.  We do not expect these changes to increase the costs of the AUP significantly.

This year, like last year, the Guide will require:

• A copy of the PCFO's most recently audited organization-wide fiscal year financial statements (campaigns with contributions less than $150,000 may provide compiled or reviewed statements);
• The PCFO to prepare, as of and for the 2006 campaign period ended, CFC activity only financial statements that are in accordance with generally accepted accounting principles and audited by an IPA in accordance with generally accepted auditing standards (only if campaign receipts are greater than $1 million);
• An LFCC compliance assessment on non-financial activities from the 2007 campaign;
• An AUP report from an IPA reporting results from its audit of financial activities from the 2006 campaign; and

• A corrective action plan from the PCFO if the IPA AUP report contained findings.

The audit reports and other supporting schedules must be submitted to the LFCC by August 1, 2008, and forwarded to OPM by September 15, 2008.   Campaigns that do not submit the items to OPM by September 15, 2008, will be considered non-compliant.  Extensions to the due dates noted above will only be approved by OPM under extraordinary circumstances.  The reports can be forwarded to OPM at the following address:

U.S. Office of Personnel Management
Office of Combined Federal Campaign Operations
1900 E Street NW, Room 5450
Washington, DC 20415-0001

Due to the required irradiation of regular mail prior to its delivery to Federal offices in the Washington, D.C. area, OPM continues to experience delayed deliveries.  As a result, organizations are encouraged to use a “next day” or “overnight delivery” method to ensure the timely receipt of materials.

The Office of CFC Operations is available to provide educational and technical assistance.  Please direct your questions to cfc@opm.gov or call on 202-606-2564.

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