| In addition to the FEC reports, the National Committee has internal financials mailed to members. A copy of these financials reached this magazine, not from the LNC mailing operation.
Of course, book-keeping rules readily lead to all sorts of outcomes, so it is not surprising that the two sets of financial reports do not agree with each other, but the two reports do present two different perspectives on the same pile of cash. For example, FEC reports are by date, while these financials are by month, and pay dates are shown when people are paid (FEC reports) or are accrued when they work (LNC financials), but if you decide to spend money up to the limit of income it is convenient to keep clear whether the income so far the year is $822,141 or $787,094, and why the two numbers are different.
For the current year, on the income side the internal report is somewhat less positive than the FEC filings are. The Quarter numbers are cumulative for the year to date. In particular
FEC To-date LNC to-date
Q3 2009
Income
Outgo 796 807 762 487
Q2 2009
Income 556 857 522 704
Outgo 524 932 505 374
Q1 2009
Income 290 671 256 669
Outgo 266 019 241 900
2008
Income 1 669 047 1 637 139
Outgo 1 779 028 1 803 580
Income 1 454 411 1 613 727
Outgo 1 346 854 1 337 686
2006
Income 1 277 215 1 289 792
Outgo 1 257 274 1 246 585
2005
Income 1 337 702 1 367 329
Outgo 1 394 063 1 497 666
There are various accounting process for describing the same situation, so there is no indication of impropriety here, but it is certainly interesting how a change in perspective can have a considerable effect on nominal income or outgo. |
Gold America Group
