Disgorgement
“the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion.”
– Black’s Law Dictionary
What does disgorgement have to do with the Democrat’s latest FEC Report? Because the FEC required them to “disgorge” some of the funds they should not have obtained as determined by a FEC audit:
And the rest of the recently filed FEC Report has equally interesting tidbits, which you can read for yourself:
SDDP 12 21 Fec Report by Pat Powers on Scribd
Biggest takeaways from the latest report are that Democrats raised $64,961 in this report, but spent $71,371.
Should I mention that “raised” might be a loose term? Because the Democratic Grassroots Victory Fund gave them a $15,000 donation, and the Democrat National Committee gave them a check for $37,000. Why the big cash movement to the local Democrats?
A portion of the $15k from the Grassroots fund is most likely their welfare check from the national party to keep the doors open. And the $37,000 from the DNC was likely for another big expense this month – the $40,000 fine from the Federal Elections Commission that the SDDP had to cough up in addition to their disgorgement of funds:
WHOOF! That had to sting, especially for the SDDP, who finds their ending cash in hand at nearly $6500 less than the previous month at $18,629.52
This is not trending in the right direction for the South Dakota Democrat Party at a time when they should be trying to get ready for candidate recruitment.
This has me thinking about something ..
One thing I admire about Bruce is his ethic for keeping the budget in order. Nobody’s perfect and you, Bruce, and I are no exception, but it’s the fact that Bruce adheres to this principle that I appreciate.
John.. what are you talking about?
I guess they could be using their donors’ money to pay for their losing candidate’s legal expenses. Oh, wait, that’s the Republican party and their dear leader.