Internal RNC probe finds financial controls in disarray [View All]

Source: Washington Times

Internal RNC probe finds financial controls in disarray

By Ralph Z. Hallow

Barely 6 1/2 months before the midterm elections, an internal investigation by the Republican National Committee has revealed that the organization is beset with questionable financial management and oversight and is spending more money courting top-dollar donors than it raises.

The investigation found that the Republican Party's national governing body is losing money on its major-donors' fundraising program -- spending $1.09 for each $1.00 raised, according to RNC members privy to the investigation's findings. It typically costs about 40 cents for every dollar raised from donors who give more than $1,000.

The investigation also found that the RNC has allowed employees to forge Finance Director Rob Bickhart's initials on expense-reimbursement request approvals, according to an RNC member who spoke on the condition of anonymity for fear of retaliation. The RNC's top elected and appointed management have united in defense of the committee's practices. RNC Chairman Michael S. Steele can withhold or increase RNC contributions to a state party.

The Washington Times obtained a copy of a report on the investigation -- prepared by RNC Treasurer Randy Pullen -- that he sent to the 28-member RNC Executive Committee before a conference call hastily scheduled for Wednesday afternoon by Mr. Steele's office. It includes some of the findings.

Read more: http://www.washingtontimes.com/news/2010/apr/22/internal-rnc-report-details-mismanagement/