Reviewing Reed’s Disclosure

Bill Simon of the Political Vine posted a comment that is worth putting up front. I had noticed the same issues and his thorough review means I don’t have to retype what he has already written so well. See below:

A few items you may have not had a chance to catch yet, Erick:

1) Casey Cagle personally gave his campaign $5000. Ralph Reed personally gave his campaign $20,000.

2) Approximately $51,000 of Ralph’s contribution book comprises of “Run-Off” contributions which would have to be returned if there isn’t a run-off. And, unless Ralph can recruit a straw-man candidate to pay the qualifying fee and run as the third man to potentially cause a run-off, that money cannot be used.

3) There is a peculiar series of entries in the Expenditures section of Ralph’s disclosure. From both McKenna, Long & Aldridge and Lisa Baron, there are a series of negative payments termed “Deferred Payments”. I’ve never seen that in a disclosure.

I know that when one applies a “minus” to a “minus”, it becomes a “plus.” Meaning, where Ralph appears to be showing about $20,000 in “Deferred Payments,” that really should have been paid-out in cash this cycle. Had they been paid-out, this would actually cause a $40,000 swing to the negative in “Cash on Hand”.

Decimal places FUBAR aside, there are some rather bizarre accounting tricks at play here.

One comment

  1. GJA says:

    “Bizarre accounting tricks” should not come as any surprise. Ralph Reed worked for Enron, among his many other sleazy clients.

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