Colorado Democrats agree to pay fine |

Colorado Democrats agree to pay fine

DENVER – The Colorado Democratic Party misreported its finances in 2001-02 by a total of more than $2 million and accepted a prohibited $10,000 contribution, federal officials said Friday.The party agreed to pay a $105,000 civil fine for the violations, the Federal Election Commission said in a news release.Democratic state Chairwoman Pat Waak said the fines stem from old allegations and the party has finally reached a settlement. Waak became the party’s chief in 2005, after the time of the reporting errors.”It’s one of the unfortunate things that I don’t think anybody did that was malfeasance. In the midst of a coordinating campaign, they didn’t collect all the information. We’re just closing out the books on this,” she said.Waak said the party has taken steps to prevent a recurrence, including a new accounting system and an internal audit “to make sure it never happens again.”Republican state Chairman Dick Wadhams said the opposition party had sloppy procedures and “they’re paying for it now.”The FEC said the misreported finances included overstating cash on hand and understating income and payments.The commission said the prohibited $10,000 contribution was from the Democratic Network PAC but did not say when it was made.The FEC said in 2001, the Colorado party overstated its opening cash balance by nearly $280,000 and its closing balance by more than $181,000.In 2002, the party overstated its opening balance by more than $238,000 and its closing balance by more than $186,000.The FEC was established by Congress to enforce federal election laws.

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