MN GOP is $2 million in debt

Categories: Politics
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Former GOP Party Chair Tony Sutton is batting 2 million.
According to new figures released today by the Republican Party's own Internal Finance Review Committee, the GOP is up to its neck in debt -- about $2 million worth.

"The debt number is honestly higher than any of us wants it to be," said chair Jeff Johnson at a press conference. "There's some ugly stuff in here."

Previous estimates placed the debt amount at $1 million, but that was before it was revealed that Republicans could be on the hook for over $700,000 worth of fees from the 2010 gubernatorial recount.

After digging through the party's financials, the review committee uncovered $415,211 worth of unreported debt. They added that to the existing $428,286 tab, along with hundreds of thousands of dollars worth of other expenses -- oh, that includes a $120,000 FEC fine for financial reporting violations. Here's the list included in today's memo:

  • Previously reported obligations
$428,286
  • Obligations previously unreported on RPM financial statements
$415,211
  • Obligations recorded as completed, where checks had not been sent to vendors
$68,798
  • Refunds sent to contributors that have not been cashed by contributors
$31,000
  • Remaining obligation - FEC fine - Aug. 2011
$120,000
  • Unreconciled credit card debt
$18,039
  • Bank - line of credit
$50,000
  • Bank - installment note
$152,091

Some of those unpaid vendors include Kieran's Pub ($797), the Minneapolis Club ($3,212) and the Coffee Mill ($215). Read the whole list here.

That still only gets up to about $1.3 million. The rest comes from legal fees that former GOP chairman Tony Sutton apparently incurred when he successfully pushed for a recount in the 2010 gubernatorial race. Republican candidate Tom Emmer still came up short on votes, and now the party is short on cash. Sutton admitted earlier this month that he signed agreements taking responsibility for the fees, but didn't tell other party officials.

Sutton resigned abruptly earlier this month amid the financial turmoil.

The committee addressed the $717,000 bill, but says the party plans to dispute their responsibility. Read the memo released by the committee here.

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7 comments
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Hotspur
Hotspur

I thought they were the party of fiscal and moral responsibility.  What the heck happened?

Darling
Darling

They don't like to pay for their mistakes. Take for example a full blown war with Iraq. 

Kilvik
Kilvik

Many of those small business's furnished goods or services to the GOP with no expectation of being paid in a timely manner or at all.  Now that the FEC/Justice Department is investigating those questionable transactions, they've suddenly started rethinking their billing practices and the costs of legal representation.  Something about sleeping with dogs and finding fleas comes to mind.

bkmn
bkmn

If u ask the lawyers to litigate the governers race you owe them money. 

A bunch of "business" men and lawyers who don't understand the function of money ask you to vote for them in an election to make things right....RUN....screw them over.  They don't represent you.

Michelle Bachmann
Michelle Bachmann

Have they considered cutting taxes?   As we all know that is the only way to raise revenue. 

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