In two years, the Libertarian Party of Florida has failed to provide the legally required annual audit on time to the Florida Division of Elections, and has risked the party’s status as a registered and recognized party in the process. We are not blaming the current or previous LPF Treasurers for this, or the LPF Finance & Marketing Committee. However, it appears that the system to ensure financial accountability is broken and we need to remedy the situation and prevent future incidents that could put the Party's status at risk. To prevent this from happening again and to ensure proper compliance with State reporting regulations, as well as to guarantee fiscal transparency within the LPF, we demand the LPF prioritize the creation of a new Standing Committee called the Audit Committee with the following duties:

• The Audit Committee shall prepare the Annual Party Audit for the Treasurer to present to the Florida Division of Elections, as required by Florida Statutes
• The Audit Committee shall annually and on the request of the Executive Committee reviews the Executive Committee’s financial records, and the financial records of the Standing Committees, to ensure that they are complete, accurate, and properly reported to the Membership.
• It shall determine if moneys have been received and spent in accord with LPF Governing Documents, Executive Committee actions, legal requirements, and fundamental ethical standards.
• It shall report to the Membership and to the Executive Committee on irregularities, deficiencies, and deviations, and their causes, and recommends corrective measures.
• The Audit Committee shall be elected by and from the Executive Committee members who are not signatories to any Executive Committee bank or other financial accounts.
• The Treasurer reports to the Audit Committee, but may not be a member of it.
• If, in the opinion of the Audit Committee, it is appropriate to employ an outside auditing entity, they shall propose this to the Executive Committee, which shall vote on the proposal.

Until such a Standing Committee is created at the next State Convention, we also demand that the LPF Executive Committee create a Ad Hoc committee to properly ensure financial transparency in the LPF and the ensure that LPF complies with the Annual Party Audit requirements, as mandated by Florida Statutes.