Valero PAC final 2020 campaign spending report: over $227,000 spent in failed bid

By Roger Straw, November 16, 2020

Valero PAC spends over $227,000 in failed bid to oppose Mayor-elect Steve Young, discloses $128,173 of that total in outstanding debt

The anti-Young Valero PAC submitted two more campaign financial reports as required by law on November 6, 2020.

Form_460_Pre_Election_4.pdf shows the following:

During the period Oct. 26 – Nov. 3
  • Income of $24,000 from the Int. Brotherhood of Boilermakers, etc. (previously reported here on the BenIndy on Nov. 3).
  • Accrued unpaid bills totaling $18,106
    • $5,000 for Live Calls (Winning Connections, Washington, D.C.)
    • $13,106 for professional services (law firm Nielsen Merksamer Parrinello Gross & Leoni LLP, Sacramento)
2020 Year to date
  • Total Income of $49,000
  • Cash payments of $99,333
  • Accrued unpaid bills of $128,173
  • Total Expenditures (cash & unpaid) $227,506
Current Cash Statement
  • Ending Cash Balance of $197,779

The PAC’s ending balance of $197,779 can pay its accrued unpaid bills of $128,173 leaving over $51,000 in Valero’s war chest for future projects.  Sigh….

Another form submitted, Form__465_3.pdf, did not disclose any new information.

Final accounting?

According to a Nov. 12 email from Benicia City Clerk Lisa Wolfe, no further campaign finance reports are anticipated until December 31, 2020.   Evidently, the Valero PAC will not need to report payment of its unpaid bills and any further income or outlays until then.