Internal RNC document details internal financial problems

[grantcart]

Watch out Mr. Steele somebody is leaking bad news about your leadership.

Internal RNC document shows lowest cash reserves during Congressional election year in a decade.

Detailed accounting records from the RNC have been released to show that the RNC is facing the congressional election year with only a small fraction of the money it normally has.

The average that the RNC has in April with an upcoming Congressional election is $ 48 million although it has been as high as $ 64 million. This year it is only $ 12.5 million despite the fact that the RNC has cut its expenditures to about 60% of its normal level.

http://i2.cdn.turner.com/cnn/2010/images/05/24/rnc.fec.2009.-.2010.financial.review.v2.pdf

The document also shows that incoming is declining rapidly -

March receipts were $ 11 million and April is 6.8. Expenditures have also dropped:

March payments were $ 9.7 and April was only 5.7.

The fact that revenue is declining seriously and that this document has been leaked detailing the poor performance of the RNC this year is an obvious embarassment to Michael Steele. It seems obvious that more and more big donors must be by passing the RNC and putting their money into other hands and some important Republicans want the grassroots to read all about it.


Here is CNN's story on the subject

http://politicalticker.blogs.cnn.com/2010/05/24/rnc-document-reveals-bleak-financial-standing/?hpt=T2&fbid=6s9sVkff_f_



Washington (CNN) - An internal Republican National Committee document obtained by CNN paints a damning picture of the committee's financial standing compared to the past five election cycles.

The document, pulled together during a recent review sparked by concerns over RNC spending practices, said the committee had $12.5 million in cash on hand at the end of April.

Read the RNC document here

By comparison, the average cash on hand at the end of April from 2002-2009 was $40.4 million. And that average includes the odd numbered years when there are fewer election contests.

Looking only at even-numbered years, this year's $12.5 million end of April COH is less than one-third the amount the RNC had on hand on April 30 for the 2002 ($47 million) and the 2006 ($44.6 million) midterms.

More than anything this shows that the internal Republican civil war is still in full gear.

Maybe having conservatives continue to study about the Civil War isn't such a bad idea after all as they seem to have gotten all of the wrong lessons from it and seem to still be caught up in civil war fever.

Michael don't go without a fight, don't resign. In these years of high unemployment it might be years before you can get a paycheck.

We are rooting for you Michael, really we are.

[NBachers]

1. All those little $5 and $10 and $15 donations I make to progressives

leave tiny little chisel marks in the foundation of the republican plantation.

I wish I had more, but I'll keep making consistent little chip chips until the election.

[grantcart]

2. morning kick