A group of Republican mayors led by Pat McCrory overspent in 2001 and 2002.
In December of 2000, the Republican gubernatorial candidate was named president of Republican Mayors and Local Officials, an advocacy group based in Washington, D.C. He served in that capacity through 2005.
According to tax records filed with the Internal Revenue Service in the first two years of his tenure, the group spent more than it took in both years, for a total deficit of about $96,000.
In 2001, the group raised $57,500 from contributions, $2,075 from dues and $199 from interest, but spent $119,105 on payments to independent contractors and $59 on printing costs, for a deficit of $59,390.
In 2002, the group raised $20,000 from contributions, $1,525 from dues and $9 from interest, but spent $58,302 on independent contractors, for a deficit of $36,768.
The overspending depleted the group's reserves from $101,948 at the end of 2000 to $5,790 at the end of 2002.
Tax forms for 2003 and 2004 were not immediately available, but forms filed in 2005 showed the group had gotten spending under control and built its reserves up to $23,212 — still far below the amount it had when McCrory became president.
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