RNC document reveals bleak financial standing

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/05/12/art.rnc.gi.jpg caption ="An internal RNC document obtained by CNN reveals the organization has far less cash on hand than it has had in previous election cycles."]Washington (CNN) - An internal Republican National Committee document obtained by CNN paints a damning picture of the committee's financial standing compared to the past five election cycles.

The document, pulled together during a recent review sparked by concerns over RNC spending practices, said the committee had $12.5 million in cash on hand at the end of April.

Read the RNC document here [pdf]

By comparison, the average cash on hand at the end of April from 2002-2009 was $40.4 million. And that average includes the odd numbered years when there are fewer election contests.

Looking only at even-numbered years, this year's $12.5 million end of April COH is less than one-third the amount the RNC had on hand on April 30 for the 2002 ($47 million) and the 2006 ($44.6 million) midterms.

To be fair, there was a Republican president in those years, and the GOP controlled Congress, so fund-raising was less of a challenge. Still, the giant gap in the RNC's financial standing compared to past cycles is a source of considerable grumbling among party leaders and activists who worry the GOP is not fully prepared to take advantage of a campaign year in which most of the fundamentals suggest huge Republican openings.

The internal RNC document also shows how this April was the first month in a year in which RNC disbursements were below $6 million. Average monthly spending by the RNC was $9.3 million, ranging from a high of $16.7 million in October 2009 (the month before governor's races in New Jersey and Virginia) to $5.7 million last month.

The Democratic National Committee says brought in $10.4 million dollars last month. The DNC also reports $15.1 million cash on hand, with $2.7 million in debt.