RNC document reveals bleak financial standing

[cnn-photo-caption image=
http://i2.cdn.turner.com/cnn/2010/images/05/24/art.rnc.gi.jpg caption="An internal RNC document obtained by CNN reveals the organization has far less cash on hand than it has had in previous election cycles."]

By John King
CNN Chief National Correspondent

An internal Republican National Committee document obtained by CNN paints a damning picture of the committee's financial standing compared to the past five election cycles.

The document, pulled together during a recent review sparked by concerns over RNC spending practices, said the committee had $12.5 million in cash on hand at the end of April.

Read the RNC document here [pdf]

By comparison, the average cash on hand at the end of April from 2002-2009 was $40.4 million. And that average includes the odd numbered years when there are fewer election contests.

Looking only at even-numbered years, this year's $12.5 million end of April COH is less than one-third the amount the RNC had on hand on April 30 for the 2002 ($47 million) and the 2006 ($44.6 million) midterms.

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