From LNC member Angela Keaton’s blog.
(Editor’s note: Last term I voted to keep the contents of the LNC Discuss list private. The motion which was seconded by me was rejected during an LNC meeting. At Anarchist Bitch, we respect the ownership of one’s words. As such, Hardy Macia and Michael Colley often mark their correspondence as private. It will remain such as will the work of acting executive director Robert Kraus and our attorney Bill Hall.–AK)
LNC Treasurer Concerned with Major Shortfall: Can the Barroot ticket make up the difference?
Aaron Starr reported this morning that:
As you may recall, at the June 5 meeting we had funds after paying payables of $122K. The amount remaining after unspent encumbrances amounted to $85K. We authorized additional encumbrances of $55K at that time, bringing our funds available figure down to only $30K.
Looking at the spreadsheet, it appears that during the next week, we spent $28K more than we took in, but we can only attribute $5K of this to spending on ballot access. This meant that we only had $6K available once we exhaust the remaining encumbrances.
With the approval at the June 11 meeting of $33K of new encumbrances, we now have a deficit in funds after encumbrances of $27K. This means that if we were to spend all of our encumbrances today, we would have issued $27K more in checks than we have cash in bank.
This concerns me obviously. If we incur these expenses, they do not create the sort of payables where payment can be easily delayed. Petitioners expect to be paid promptly or they will simply walk away.
If we spend this money and do not increase our incoming revenues quickly, we run the risk of not being able to meet our obligations for payroll and other expenses required for normal operations.
Starr is currently in China and cannot be reached for comment.