Josh Goodman is a former staff writer for GOVERNING..
E-mail: mailbox@governing.comTwitter: @governing
Kay Ivey's Curious Cash-on-Hand (AL Governor)
Alabama State Treasurer Kay Ivey is considered a long shot for the Alabama Republican gubernatorial nomination, in large part because of financial troubles with the state's prepaid college tuition plan, which her office administers. In that context, her hefty $1.5 million cash-on-hand showing was impressive -- impressive if you're not familiar with Ivey's history.
Danny at Doc's Political Parlor explains:
Kay Ivey reports $1,561,000 on hand, but she also reports that she loaned herself $1,500,000 on New Year's Eve. This is a regular trick she does. The New Year's Eve loan shows up on the annual report for the year, but she repays the money almost immediately after the New Year so that the money is not really in her campaign account but a few days - long enough to inflate her year-end balance. You can see an example here in this report for 2008 [.pdf]. On January 2, 2008, she pays back a $1 million loan that she made a few days before at the end of 2007. You can see on the same form that she loans herself a million dollars again on December 31, 2008. Three days later, on January 2, 2009, she repays $975,000 [.pdf] but in the meantime reports a 2008 ending balance of $1,003,137.54.
Twitter: @governing
GOVERNING Politics is the place for news and analysis on campaigns and elections. If there's a ballot measure in California, a legislative election in Alabama, a mayoral election in Anchorage or a governor's race in Rhode Island, GOVERNING Politics probably is writing about it. We love everything about state and local politics, from polls and campaign ads to policy debates and demographic trends.
Latest From Politics
- Eric Garcetti Faces Major Challenges as Next Mayor of Los Angeles
- How Weak is the Republican Party in the Most Democratic States?
- Looking Back at Howard Dean's 50-State Strategy
- Are States Deepening the Nation's Red-Blue Divide?
- How Successful Are Lieutenant Governors Seeking the Governorship?
Categories
- Ballot Measures
- Economic & Fiscal Issues
- Election Results
- Governors
- Legislatures
- Local Offices
- Mayors
- Media and Advertising
- National Politics
- Parties & Interest Groups
- Political Map
- Polls
- Redistricting & Reapportionment
- Social Issues
- State Offices
- Voting Process & Voting Rules
Twitter
Facebook
LinkedIn
YouTube
Flickr
RSS
© 2011 e.Republic, Inc. All Rights reserved. |