Monday, January 02, 2012

Republican Party of Texas Is Debt-Free

The money raised by the Republican Party of Texas stays in Texas. That's a good thing. Thanks to the leadership of Chairman Munisteri, the party is debt free and paying its bills on time. A new budget is set and the outlook for the party finances is good.

From an update by the party Treasurer:

The SREC met at its quarterly meeting on 12/3/11 & 12/4/11. Our report to you is the Party’s finances continue to be strong while carrying no debt. All of the Party’s bills continue to be paid on time. Additionally, all regulatory filings have been timely during the last quarter and the Party continues to be in good standing with the Texas Ethics Commission and the Federal Elections Commission.

The following is an excerpt from my December 3, 2011 report to the SREC (as of 10/31/2011):
•Cash on hand: $742,918.21 (does not include prepaid 2012 State Convention expenses or Primary Election cash from the Secretary of State
•Debt: $0.00
•Increase in fund balances for the 10 months ended 10/31/2011: $77,765.29 (an increase over 2 months of $6,156.96 since our last report to you)

Additionally, the SREC passed a 2012 operating budget of $1,051,248. The actual Party expenditures will be dependent on fundraising income as our Chairman refuses to spend money the Party does not have. Steve also presented a list of additional Party building items which he believes will further strengthen the RPT’s efforts at delivering a convincing victory for conservative principles and values at the 2012 general election (again, subject to raising the necessary funds).

The logo above is the one to look for on fundraising letters.

A very successful program for fundraising is The Grassroots Club.

The Grassroots Club is absolutely critical to the Party’s success. Tom Washington and I both volunteer our time and we are both members (as is our State Chairman who volunteers full-time running our Party) and we believe this is the best way to ensure the grassroots have a prominent role in the direction of our Party. As we said during our last report to you, this fundraising tool has the lowest cost of any we perform (95% of funds donated go directly to the Party even after the credit card fee is deducted). And the low contribution amount of $8.25/month enables all of us to help carry the load of keeping the Party involved in the fight for our nation.

Good news indeed.

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