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Romney ended August with $50 million in the bank

Gov. Mitt Romney speaking at a rally today in Chillicothe, OH

(CNN) — Republican presidential nominee Mitt Romney ended August with $50 million cash on hand and an anticipated $15 million in debt, monthly reports filed with the Federal Election Commission on Thursday showed.

Romney’s campaign said Tuesday that the portion of a $20 million loan taken out to bridge his primary candidacy through his party’s official nomination when he could tap his general election funds would show on the report, although it said the outstanding debt has been reduced to approximately $11 million. The loan used as collateral his general election war chest, which allows for deposits but no withdrawals until the candidate is officially his party’s presidential nominee.

But overall, the Romney’s campaign has plenty to spend.

The candidate raised $86.6 million in the month, which concluded with the Republican National Convention in Tampa where Romney officially became his party’s nominee.

He also spent $66.3 million over the course of August.

The numbers do not include cash raised by the Republican National Committee or other parties to the Romney Victory Fund.

Filed in: News


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