Tim Hagan Files January End-of-Month Financial Reports

Tim Hagan
The Treasurer of the Libertarian Party, Tim Hagan, has filed January’s End-of-Month Financial Report in preparation for this weekend’s meeting of the Libertarian National Committee.

LNC_01-14_MonthEndFinc_v1

4 thoughts on “Tim Hagan Files January End-of-Month Financial Reports

  1. ATBAFT

    Uh, guys, shouldn’t the building fund be a liability and not an equity amount? Or do I disremember my gaap?

  2. George Phillies

    The 2012 negative revenue is also interesting though not impossible.

    Someplace in GAAP and its many intepretative advice pieces is a statement that your financial statements should match the rules of the people with whom you file. We do not file with the IRS. We file with the FEC, which talks only about real cash movements. I am not sure that GAAP statement, which I have never again been able to find, even applies to us.

  3. ATBAFT

    Well, if the “office building fund” is refundable if the Party doesn’t buy one, then there is a contingent liability because the funds aren’t “earned” until spent as promised. Don’t know how the FEC requires reporting – maybe they require contributions shown when received – but would be interesting to see how they would react to negative contributions in the event $300,000+ had to be returned some time!

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