Is DeLay's ARMPAC Broke?
DeLay's ARMPAC has no money. ARMPAC's year-end report shows that the PAC received $17,000 from six different PACS. The PAC spent a little less than that on disbursements which mostly consisted of the salaries of Delay's wife (Christine DeLay), his daughter (Danni DeLay Ferro), and his codefendant in Texas Jim Ellis (the PAC gave Ellis his December paycheck and fronted him his January one as well).
The PAC is carrying a debt of nearly $150,000 which technically makes it insolvent. The PAC reported cash-on-hand at year's end of $44,000. It also reported that $22,000 in previously-written checks had been "lost," voiding them out, and thereby giving their account a credit for that amount. Without the unexpected $22,000, ARMPAC would barely have $20,000 in the bank.
The PAC reported only one small payment to one of its three law firms and didn't report any debt owed to the other lawyers.