Ted Kaufman, treasurer for the now-abandoned campaign of Sen. Joseph R. Biden Jr. (D-Del.), said he expects the campaign to break even financially. He said Biden raised about $3.7 million, which "will probably be pretty much what his campaign expenditures were. It could go $20,000 or $30,000 either way, depending on winding-down expenses."
Kaufman said it is difficult to predict the final figures for the campaign because "you always have travel vouchers outstanding. We still haven't gotten our long-distance telephone bill. And we have certain costs, like office rentals, that we'll have to negotiate. We had one-year leases, and a lot of them still have six months to run." He said the campaign intends to award severance pay to the staff.
Kaufman said he probably "would have a good handle" on the campaign's financial state by Oct. 15, the deadline for presidential candidates to file financial reports for the July-September period. He said he thinks the campaign raised about $500,000 during that quarter. As for money in the bank, Kaufman said Friday, "As of today it's about $330,000 and falling."
Early last week the Federal Election Commission said Biden's campaign had qualified for matching funds from the Treasury. But Kaufman said "we would like to close down the campaign without having to use matching funds." He estimated that the campaign could qualify for about $1.5 million in matching money.
Meanwhile, the FEC made a final ruling Thursday that former Colorado senator Gary Hart is not eligible for federal matching funds because his request came 10 days after he withdrew from the Democratic presidential race. Donald Simon, an attorney for Hart's campaign, said he would discuss the FEC ruling with Hart and decide within 30 days whether to file an appeal with the U.S. Circuit Court of Appeals here.