Libertarian National Committee Treasurer Calls for Emergency Meeting Following Plummet of Cash Reserves to $47,000

The treasurer of the Libertarian National Committee called for an emergency meeting on Wednesday morning following the release of the latest end-of-month report, which revealed a dramatic drop in cash reserve adequacy amid concerning financial figures.

According to the February report and summary by Libertarian National Committee Treasurer Todd Hagopian, the party is facing significant financial challenges regarding its cash adequacy and ability to balance expenses to revenue. In response to the concerning figures, Hagopian called for the Libertarian National Committee to convene for an emergency meeting at some point over the Easter weekend.

“Our cash reserve adequacy dropped dramatically to $47K, which is below our target of $74K. This is a serious problem, as it shows how fast the cash reserve adequacy can swing in a given month when expenses outpace revenues,” Hagopian stated. “We still have over $110K in usable cash, so please be on the lookout for my report later this week that outlines the overall financial position of the party.”

Hagopian’s report, originally shared on the LNC Business List, shows that the cash adequacy has sunk to $47,000, well below the initial target of $74,000. Despite hopes for a more robust figure, non-convention income fell short at $79,000, with convention sales reportedly only reaching $16,000. On the expenses side, non-convention expenditures rose to $122,000, exceeding revenue by over $40,000.

While Hagopian noted that effective expense and cash management helped mitigate the overall impact, he emphasized the need to increase overall revenue or make immediate expenditure adjustments to stabilize the party’s financial position. Additionally, Hagopian warned that the party needs to be prepared to handle further ballot access spending ahead of the convention with cash, and he added that measures are necessary to protect the party’s cash reserves.

In his summary of the report, Hagopian called the figures indicative of a “bad first two months of the year” and emphasized that the party needs to work toward reversing current trends. “This simply cannot go on any longer, or expenses must be cut immediately,” he added.

As of this article, specific dates and times for an emergency meeting are still being deliberated.

Editorial note: With thanks to Third Party Watch owner and fellow Independent Political Report editor, Dr. George Phillies, for publicizing the information on his site. Dr. Phillies did not contribute to this article.