From a monetary perspective, Santa Clara Valley Water District board challenger Gary Kremen remains the race’s “War Admiral” to incumbent Brian Schmidt’s “Seabiscuit,” outpacing Schmidt’s spending by 23 to 1, according to campaign financial disclosure statements filed in Santa Clara County on Oct. 23.
As of Oct. 18, Kremen has spent $397,993 to Schmidt’s $17,229, racking up $368,565 in outstanding debts while Schmidt’s campaign lists none.
Kremen’s monumental financial advantage is fueled by $36,223.45 from donors and $314,500 in loans he personally made to his campaign. His campaign has received a total of $350,723.45 for the year.
In the financial reports covering the period of Oct. 1 through Oct. 18, Kremen reported giving his campaign a $66,000 loan. He reported receiving $3,950 in monetary contributions.
Schmidt has collected $18,533 for the year. He donated $2,000 to his own campaign, including $1,500 during the Oct. 1-18 period. He reported receiving $5,351 during the period, which includes $4,900 from donors and $451 in non-monetary contributions.
The candidates spent their money in vastly different ways. Kremen lists $85,229 in expenditures for the period, and he has a $6,833.57 cash balance, according to his statement. He owed more than $54,000 in unpaid bills for professional services.
Schmidt lists $9,090 in expenditures for the period, and had a $1,234 cash balance. His expenditures included $2,823 for campaign literature and $4,533 for postage. In non-monetary contributions, he reported receiving: PayPal processing fees worth $83; photocopies worth $63 and online advertising worth $338.
Kremen’s biggest expenditures for the reporting period included: campaign consultants, $16,785; website-related services, $11,529; campaign literature, $52,740; and advertising, $2,812.
Email Sue Dremann at sdremann@paweekly.com.
