04/19/2012 02:33 pm ET Updated Apr 19, 2012

Barack Obama 2008 Campaign Failed To Report Nearly $2 Million In Contributions

The 2008 campaign of President Barack Obama did not report about $2 million in campaign contributions, according to a new audit of the campaign by the Federal Election Commission.

The audit found a failure to report $1,972,266 in contributions received within the final weeks of the campaign. In the 20 days before an election, candidates are required to file special, daily disclosures within 48 hours of receiving contributions over $1,000.

The FEC states in its audit, "A majority of the missing 48-hour notices arose from a transfer reported on October 24, 2008 from the Obama Victory Fund (OVF), a joint fundraising committee composed of OFA and the Democratic National Committee (DNC)."

This was the only violation that the FEC found in its full audit of the Obama campaign, which spent more than $700 million from 2007 to 2008. University of California-Irvine election law professor Rick Hasen wrote on his blog, "For an audit of a campaign of over $700 million, this is a very clean report."