As per Chairman Munisteri’s request, Tom Washington (the Assistant RPT Treasurer) and I would like to take the opportunity to update all of you on the party’s finances for the last quarter. The SREC met at its quarterly meeting on 9/30/11 & 10/1/11. My report as your Treasurer is the Party’s finances remain strong and under the Chairman’s leadership, the Party continues to carry 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 October 1, 2011 report to the SREC (as of 8/31/2011):
Cash on hand: $ 734,168.30
(does not include prepaid 2012 State Convention expenses)
- Debt: $0.00
Increase in fund balances for the 8 months ended 8/31/2011: $71,608.33
(an increase over 4 months of $34,512.28 since our last report to you)
The Party’s fundraising was below budget as a result of lower receipts in the area of Direct Mail. The Party did maintain adequate fund balances to ensure this did not adversely affect party operations, however, the continued generosity of Texas Republicans is critical to allow the RPT to strengthen its staffing and by so doing, provide critical services to our elected officials and Republican challengers during the upcoming election cycle especially in the area of replacing the current Administration. Tom Washington and I would like to encourage all grass roots Republicans to look for the "Raised in Texas, Stays in Texas" logo on our Party fundraising to ensure your contributions are staying in Texas.
The Grassroots Club (by which Republicans can make an automatic monthly, reoccurring deduction charged to their credit cards) continues to play a vital role in financing the cost of operating the RPT. As we mentioned last time, the growth of this club is crucial to the long-term health and success of our Party. This fundraising tool has the absolute lowest cost of any we perform (95% of funds donated go directly to the Party). As of 10/26/11 the Club included the membership of 1115 faithful Republicans. If you haven’t had the opportunity, please follow this link to join today: www.GrassrootsClub.com.
Republican Party of Texas