08/20/2012 04:58 pm ET Updated Aug 20, 2012

Democratic National Committee Raises Little, Spends Big In July

The Democratic National Committee appears to have had a rough month of fundraising in July, pulling in nearly $10 million. That's $10 million less than what the DNC raised in June.

The low fundraising number was coupled with a large increase in spending. The DNC spent $32 million in July, slightly more than $1 million per day. The majority of the DNC's spending went to coordinated expenditures with the campaign of President Barack Obama and transfers to state party committees. The DNC was left with $15 million cash on hand at the beginning of August.

But the low fundraising number reported by the group in its monthly finance report to the Federal Election Commission could end up being a bit higher. That's because the Obama Victory Fund, a joint fundraising committee that pulls in contributions for both the Obama campaign and the DNC, did not transfer $12 million of the $30 million it raised in July, and some of that money may eventually make its way into the DNC's coffers.



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