Postscript to the Era of the Political Pre-Announcement
Yesterday I argued that media and blogging attention to measurable party metrics such as fundraising levels and nomination counts had the potential for danger if parties governed themselves only towards meeting such short-term targets. As on Wall Street, at least two parties are making a regular practice now of "pre-announcing" certain results (before the reporting period is even concluded this time), as a way to spin the numbers to their advantage, or at least to minimize the hit from bad results.
I also argued that, just as when pre-announcing results came into vogue on Wall Street, it could also be a sign that people should be looking for what the spinners didn't want you to see. And we may see a hint of that in this morning's Toronto Star.
Veteran Liberal-watcher Susan Delacourt reported, from her interview with Liberal national director Rocco Rossi on the fundraising numbers, that:
It's better news than the bleak set of figures the Liberals are due to file to Elections Canada today.Delacourt provided some further details of that interview in her blog earlier today, including Rossi's impression of Liberal Leader Michael Ignatieff's commitment to fundraising and attention to the machinery of the party, and his assertion that "There’s clearly a goal as stated by Senator (David) Smith, to have all nomination meetings, or the bulk of nomination meetings, at least called if not completed by the time the House returns in September. So there’s a very very large push on all fronts".
The new party president, Alf Apps, has said the Liberals took in only $5.9 million in 2008 – almost $1 million less than the year before.
Rossi said the 2008 report will show "relatively low fundraising, an election and therefore a lot of debt loaded on."
Better numbers are to be found in the Liberals' more recent past, Rossi argues. Everything the Liberals raise from here on in this year can be poured into the war chest for an election that could come as soon as September, he said.
Some other commentators are noticing the parties' efforts to spin this set of fundraising numbers for the media as well, from Kady O'Malley at macleans.ca to the editorial board of the National Post.
As I suspected, the Liberals knew that their financial statements from last year, which were not due to be filed with Elections Canada until today and could show up on the Elections Canada website at any time (and thus become a story), might not contain the best news for them. The problem is the reporting lag between the end of the fiscal year and the filing deadline, and they believed the progress they've made in the meantime may not be given proper weight when their end-of-year performance is compared to that of other parties. Hence their interest in spinning the good news from the first two quarters of this year -- which won't be released for another month -- now.
This is one of the reasons I've assembled the calendar of financial data release dates, which I hope will clarify reporting periods and data release dates. And, I'm hoping to have a comprehensive database reference to all the party fundraising, expenditure, and balance sheet metrics done by the end of July.
Labels: Liberals, Party Finance



