March 2000

Society PAC Approves Disbursement Policy

At its January 21 meeting in Albany, the board of trustees of CPAPAC, the NYSSCPA's political action committee, approved a disbursement policy for funds to state legislators.

Since its inception in February 1999, CPAPAC has raised more than $66,000. Last year, it disbursed $8,000. The board voted to distribute up to $35,000 in 2000.

"We developed this policy to ensure that CPAPAC establishes ongoing relationships with key legislative policymakers in the state," board of trustees President Robert Fagliarone said. "With all the profound changes occurring in our profession, it is essential that Albany lawmakers hear our voice."

The disbursement policy states that CPAPAC will distribute funds to Assembly and Senate majority and minority political action committees.

"These partisan committees are the central fund-raising organizations for all Democratic and Republican state legislators," NYSSCPA Governmental Affairs Director Fong Chan said.

CPAPAC also will disburse funds to the leadership teams in both houses, including the Assembly speaker and majority leader and the Senate majority leader and three deputy majority leaders. Other legislative groups that could receive contributions include the minority leaders in both houses and chairs of key committees such as the Assembly Ways and Means Committee and the Senate Finance Committee, which handle tax- and revenue-related issues, and the Assembly and Senate Higher Education Committees, which oversee professional licensure legislation. Lawmakers who sponsor legislation on additional issues of concern to the profession also can receive CPAPAC funds. This includes, for example, sponsors of A. 8600 and S. 4402, Society-supported legislation to update the state's accountancy statute.

The CPAPAC board of trustees also adopted bylaws at its January meeting that establish the organization's purpose, size, and scope of operations; the board's composition; and audit and control policies for funds disbursement. For more information, see http://www.nysscpa.org for a copy of the bylaws. *