Last updated on November 2, 2024
The FEC has recently filed several Requests For Additional information with the LNC Treasurer, relating to various entries in LNC filings with the FEC. These are inquiries asking that entries in an FEC filing be explained. In addition, the LNC has been filing multiple Amended Filings with the FEC. We have covered original filings, but in general have not been looking for amendments,of which we find that there are many. In several cases, a second filing was needed; it brought the cash on hand at the end of a period into line with the cash on hand at the start of the next period.
To bring you up to date, the following table shows the aggregated data from various LNC filings with the FEC. Cash on Hand, Start is the amount of money that the LNC started with. It should match Cash, End of Period, of the previous period. Receipts and Spending refer to money coming in to the LNC or leaving the LNC. Money owed is the current total debt owed by the LNC, except at the very bottom, where there is also a number for money owed to the LNC.
Note the large discrepancy between cash on hand at the end of September and cash on hand at the start of the first half of October. Presumably there will be an amended filing.
Data for June, original
| Description | Original Filing | Current Filing |
| Cash on hand, Start | 498,074 | 498,074 |
| Receipts | 96,209 | 96,209 |
| Spending | 244,497 | 244,497 |
| Cash, End of Period | 349,786 | 349,786 |
| Money Owed | 294,317 | 304,868 |
| Cash on Hand, Start of July | 349,786 | No Second Filing |
| Receipts | 90,937 | |
| Spending | 113,688 | |
| Cash, End of Period | 327,035 | |
| Money Owed | 319,157 |
Data for August
| Cash on Hand, Start | 348,985 | 327,035 |
| Receipts | 1,038,303 | 1,007,371 |
| Spending | 432,317 | 433,881 |
| Cash, End of Period | 954,971 | 900,526 |
| Money Owed | 389,996 | 488,712 |
Data for September
| Cash on Hand, Start | 900,526 |
| Receipts | 926,090 |
| Spending | 1,328,197 |
| Cash, End of Period | 498,419 |
| Money Owed | 442,568 |
Note the discontinuity in cash on hand between the End of September and the start of October. This issue will doubtless eventually be clarified.
Data for First Half of October
Cash on Hand, Start | 370,503 |
Receipts | 475,673 |
Spending | 753,882 |
Cash, End of Period | 92,295 |
Money owed by LNC | 89,436 |
Money Owed to LNC | 86,876. |
The response to the FEC is now available online to view. Very interesting. I will hold off commenting on the unreported debt, and leave that to Dr. Phillies who understands a little bit more about just how cash strapped the libertarian party is.
I believe the response would also make additional evidence in the case against the chair for fraud and abuse of power. Go read it and you’ll understand.
Mr Flood,
Do you have a link or key searches for that, I want to read it but I keep getting the 2012 case.
Very simple to find.
Go to the [evil] FEC website, fec.gov
In the search bar near the top on the right side, start typing libertarian. You usually have to enter at least libert before it starts finding the correct committees. It can be fast or slow, depending on time of day. I tend to look late at night when most political wonks are sleeping.
There are TWO (yes TWO!!!) Libertarian committees. The first one in the list, LNC, INC., is the correct one. They changed the structure sometime in the 90s so there are two committees in the FEC database.
After the website grinds away for a bit, it will load data for the LNC. You can see all sorts of stuff here, but what you may be interested in most is found under the “filings” selection on the left column. Everything back to the dawn of time is there, with the most recent at the top. It defaults to the 2023-2024 cycle, but if you are interested in seeing things like how much was raised a decade ago vs this year, the data is all there.
I tend to check the FEC database for committees and candidates about once a month, although I have been checking more frequently during this current LNC scandal.
I believe Dr Phillies checks about mid-month every month, when the party committee monthly reports are posted.
Happy fishing!!!
There is now just over one week remaining until the hammer drops. Responses from the LNC are due by Monday, December 2, which is one week from tomorrow.
The post election report, which may turn out to be a huge problem for them, is also fast approaching the due date.
Today is the ninth. Reports are due on the 10th.
In just a few more days we will find out more about the month of October.
How close to bankruptcy is McAddled driving us?
Peculiarly, a few numbers vanished overnight. This omission has now been fixed.
So called professional accountants (that were found via a Google search – who do not have much experience with nonprofits plus zero experience with FEC Filing campaigns, committees or candidates) have been doing the bulk of the accounting – often providing obviously faulty & missing date to the LNC’s FEC Consultant who does the reporting.
Needless to say – ending cash in month “X” should match beginning cash in month “Y” if everything is done according to GAAP standards.
I’ve been saying that they got ripped off by these accountants who did not live up to their org agreement (according to meeting notes they were only going to charge $2-3K a month once “on-boarding” was complete). The contract should be ended due to breach & either the FEC Consultant (who is also a CPA) or the Treasurer should take over the daily accounting ASAP.
The Treasurer should resign if the LNC will not allow this since he is the one in danger of going to jail!
Thanks for the clarification. So accountants who are not experienced with political organizations. How wonderful! And after years and years of no issues with the FEC consultant, I can understand how this must be driving her and the treasurer crazy.
You have verified my “garbage in garbage out” theory.
I don’t understand it, I hope George breaks it down more.
Tables in WordPress can be a little bit tricky unless you really understand HTML and CSS.
I need to do my normal Saturday server maintenance, but if he hasn’t had a chance to fix the columns by the time I’m free I will see if I can sort it out as a comment.
There were a few entries that vanished (now has been fixed), but I believe that the request –doubtless shared by many readers — for an explanation was more general.
Very likely. I just checked, and there does not appear to be a book titled FEC Filing for Dummies” — although it would probably make the Times best seller list during election years.
Learning to read them should be a prerequisite for anyone serving as the chair of a state party or on any party’s national committee. You certainly need to know how if you ever manage a federal campaign. It is really the only way to track what your opposition is doing.
And an FEC consultant, for many years. But the accountants (assuming they use accountants) wouldn’t normally file FEC monthly reports.
Normally, in a federal campaign or a state party filing federally, the treasurer will actually handle the submission. My impression, from years ago when I was on the LNC, was that others put together the data. The treasurer dealt a lot more with analyzing where the party was in the budget, looking at trends in fundraising and expenses, and attempting to oversee and make sure nothing was going wrong. That is a lot of work — especially when added to other duties LNC members all have.
I am pretty sure the treasurer didn’t actually handle the physical submission back then, but maybe it is different these days.
Our FEC consultant files the reports. The accountants, and the staff, compile the info and answer questions. Robert is incorrect.
Hmmm…
I think Robert said exactly what you said. The FEC consultant files the report. Staff/accountants give her the data.
So since she has been doing a fantastic job for years, with complaints from the FEC being a rarity, the fact that there have been three so far this year and a fourth that we expect from the hundreds of thousands of dollars discrepancy in the latest report, my guess is that the communication problem is likely on the staff/accounting side.
And unfortunately, as noted elsewhere, the head that goes on the chopping block if this goes south and there really is a mess that can’t be corrected, is the treasurer.
The job of treasurer is a somewhat thankless job at times.
Don’t they have an accounting firm handling a lot of this now? I find it hard to believe that professional accountants would not have noticed.
No, the longtime FEC consultant files the report. However, it is only as good as the info that comes in. So, there is definitely a breakdown in communication somewhere.