Update: Outside Money Pouring In
Hillel Aron | January 14, 2013
Semi-annual financial disclosure forms for independent expenditure (IE) committees aren’t due to the City Ethics Commission until January 31. However, some information can be obtained from the City Ethics Commission in between these reports.
For example, the Coalition for School Reform — a group of advocates including (but not limited to) charter school proponents — raised $150,000 in the last few days, according to two late contribution reports (see reports here and here).
That leaves the Coalition with just under $300,000 cash on hand, since they ended last year with about $145,000 in the bank (see last semi-annual report here).
For comparison, the teachers union’s IE committee, UTLA-PACE, already had $634,901 in its campaign chest as of June.
This is just the latest reminder that, thanks to strong interest in the outcome of the race and no-limit contribution rules, IEs on both sides can raise and spend gobs of money for publicity, organizing, and other campaign activities — likely eclipsing direct contributions to individual campaigns.
Additional reporting by Samantha Oltman