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Federal Election Commission | United States of America
  • audit report

Executive summary: Audit of the Prompt Payment Act

December 1993

If you require the entire printed version of the audit report, contact the Office of Inspector General, Federal Election Commission, 999 E Street, NW, Washington, DC 20463 or call Dorothy Maddox-Holland, Special Assistant, phone: (202) 694-1015, fax: (202) 501-8134, or e-mail: dmaddox@fec.gov.


Executive summary

The Prompt Payment Act, Public Law 100-496, as amended, requires that vendor payments be made within 30 days of the receipt of a valid invoice or the receipt and acceptance of goods or services, whichever is later, unless otherwise specified by contract. The Act required OMB to issue regulations, contained in Circular A-125, implementing the provisions of The Act. The primary objectives of this audit were to evaluate the FEC's payment performance, the status of payment controls, and compliance with the provisions of OMB Circular A-125 "Prompt Payment Act" (eff. April 1, 1989), and OMB Circular A-123 "Management Controls" (revised, draft January 29, 1993). Results of our audit effort indicate that overall, FEC's Payroll and Accounting Office (PAO) is complying with the requirements of the Prompt Payment Act and related requirements.

This information is not intended to replace the law or to change its meaning, nor does this information create or confer any rights for or on any person or bind the Federal Election Commission or the public.

The reader is encouraged also to consult the Federal Election Campaign Act of 1971, as amended (52 U.S.C. 30101 et seq.), Commission regulations (Title 11 of the Code of Federal Regulations), Commission advisory opinions and applicable court decisions.