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PNP Donations Double
Published: Tuesday | September 20, 2011
Daraine Luton, Senior Staff Reporter
CONTRIBUTIONS TO the Opposition People's National Party (PNP) more than doubled in the last financial year.
The party's audited report for the year ending June 2011 indicated that contributions rose from $50.2 million in the last political year, up from $20.4 million the previous year.
At the same time, the PNP financials indicate that membership dues jumped from $8.7 million to $13.8 million.
PNP treasurer Mark Golding attributed the massive increase in contribution to "additional fund-raising efforts on our part and favourable responses to our efforts".
While not naming the donors, Golding said they are "all local private-sector companies and individuals ... . Some are new donors and some are people who have been supporting us over the years, but they are all legitimate business people."
He added: "None of the donations are on the basis of any kind of pledge or anything. We explain to them what we are doing - that we are raising the bar, we have an integrity commission that is vetting our candidates, and that we are trying to strengthen democracy, among other measures, and they are prepared to support us," the PNP treasurer said.
Disclosure doubt
Asked whether the donors would be willing to have their contributions, made public when that aspect of campaign reform comes on-board, Golding said he had not polled them on that issue.
"The disclosure that will be required is not very clear. We don't know whether it is going to be a public disclosure, or a disclosure to the Electoral Commission, and how donors react to it will depend on that," the PNP treasurer said.
"As we move towards a culture of disclosure in this area, I think most well-thinking donors will not feel too reluctant to have it disclosed that they are giving some support to the democratic process," Golding said.
The PNP treasurer, while noting that the period under review was not the election year, said he would not be surprised that donors were coming on-board because it is getting closer to an election.
"The expenditure was really on political activities, so we were able to do more."
Bulk of funds
Total income for the political year last year stood at $65 million, up from $30 million the previous year. But the bulk of the funds raised was spent on events such as conference, meetings, and administrative fees. The financials, audited by Chartered Accountants Strachan, Lafayette & Associates, indicate that $64.4 million was expended in the just-concluded year compared to $29.6 million the previous year.
Although the statements indicate that $32 million was spent on meetings and conference, Golding said it should not be interpreted that the figure represents expenditure on the last annual conference.
"The conference did not cost anywhere close to that," Golding said. He noted that it included campaign expenses, enumeration drive, and polling.
The expenditure does not include spending on the two-day all-island bus tour which took place in July.
daraine.luton@gleanerjm.com
Published: Tuesday | September 20, 2011
Daraine Luton, Senior Staff Reporter
CONTRIBUTIONS TO the Opposition People's National Party (PNP) more than doubled in the last financial year.
The party's audited report for the year ending June 2011 indicated that contributions rose from $50.2 million in the last political year, up from $20.4 million the previous year.
At the same time, the PNP financials indicate that membership dues jumped from $8.7 million to $13.8 million.
PNP treasurer Mark Golding attributed the massive increase in contribution to "additional fund-raising efforts on our part and favourable responses to our efforts".
While not naming the donors, Golding said they are "all local private-sector companies and individuals ... . Some are new donors and some are people who have been supporting us over the years, but they are all legitimate business people."
He added: "None of the donations are on the basis of any kind of pledge or anything. We explain to them what we are doing - that we are raising the bar, we have an integrity commission that is vetting our candidates, and that we are trying to strengthen democracy, among other measures, and they are prepared to support us," the PNP treasurer said.
Disclosure doubt
Asked whether the donors would be willing to have their contributions, made public when that aspect of campaign reform comes on-board, Golding said he had not polled them on that issue.
"The disclosure that will be required is not very clear. We don't know whether it is going to be a public disclosure, or a disclosure to the Electoral Commission, and how donors react to it will depend on that," the PNP treasurer said.
"As we move towards a culture of disclosure in this area, I think most well-thinking donors will not feel too reluctant to have it disclosed that they are giving some support to the democratic process," Golding said.
The PNP treasurer, while noting that the period under review was not the election year, said he would not be surprised that donors were coming on-board because it is getting closer to an election.
"The expenditure was really on political activities, so we were able to do more."
Bulk of funds
Total income for the political year last year stood at $65 million, up from $30 million the previous year. But the bulk of the funds raised was spent on events such as conference, meetings, and administrative fees. The financials, audited by Chartered Accountants Strachan, Lafayette & Associates, indicate that $64.4 million was expended in the just-concluded year compared to $29.6 million the previous year.
Although the statements indicate that $32 million was spent on meetings and conference, Golding said it should not be interpreted that the figure represents expenditure on the last annual conference.
"The conference did not cost anywhere close to that," Golding said. He noted that it included campaign expenses, enumeration drive, and polling.
The expenditure does not include spending on the two-day all-island bus tour which took place in July.
daraine.luton@gleanerjm.com
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