At Chairman Munisteri’s request, Tom Washington (the Assistant RPT Treasurer) and I would like to take this opportunity to update all of you on the party’s finances for the last quarter. 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).
Tom Washington and I would like to again 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 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.
As of 1/2/2012 the Club included the membership of 1261 faithful Republicans. If you haven’t had the opportunity, please follow this link to join today: www.GrassrootsClub.com.
Republican Party of Texas