Financing the Bronx Borough President Race

It’s barely 2008 and likely Bronx Borough President candidate and City Councilman Joel Rivera has already spent $144,852 of the $201,996 he raised.

According to the city Campaign Finance Board’s rules, Rivera has exceeded his out-year spending limit for a borough president candidate, which is $129,000. Any money spent beyond that limit will be counted towards the $1,386,000 spending limit for the 2009 primary.

The expenses driving Rivera spending include more than $36,000 for Basci Communications, which has billed the campaign for fund-raising and professional services. There’s also a little more than $15,000 that was paid to the Bronx Democratic County Committee, for fund-raising and in political contributions.

Another likely candidate, Assemblyman Ruben Diaz, Jr., raised $107,985 and spent only $17,131.

In addition, State Senator Jose Serrano, Jr. who is considering a race, raised $3,932.61 this period and spent $4,972.94. And City Councilman Jimmy Vacca, whose staff is sort of doing a Sheekey-esque job of trying to convince him to run, has raised $167,755 and spent $27,148.