I did not have a lot of time to research this earlier today as I was working. This evening we went to a music program that my son Graydon was involved in.
After I got home I decided to read through the Campaign Finance Laws.
I am still 100% positive that what The Kelty Campaign did was legal per accounting rules. There is no doubt in my mind about that; it is fairly common among corporations. I have discussed this with a couple of other CPA's and we are all in agreement that it is 100% legal from an accounting perspective.
I am becoming more skeptical about it from a Campaign Finance perspective. I do not like our campaign finance laws at all. They are a joke; however, after giving it some more thought I am pretty sure now that I would have reported those loans as coming from three other individuals rather then from Matt Kelty. From a Campaign Finance perspective I think that is the right thing to do.
One of the supposed goals of Campaign Finance laws is to make it clear where the money that flows into a campaign comes from.
I now think that the Kelty Campaign did make a mistake. I think that our Campaign Finance Laws should be written so that an average person can run for office and be able to comply with the rules. It sickens me that campaigns often have to consult with attorney's about these matters...
I think the next meeting of the Allen County Election Board will be very interesting. I think that Allen County has a very strong Election Board and I think that they will be capable of sorting through this and coming up with the correct decision.
While I currently think that The Kelty Campaign did most likely make a mistake in their filings; I do not think that the mistake could ever be construed as a felony. In fact, anyone who thinks that it is a felony would have to PROVE that the mistake was made on purpose.
I think that The Kelty Campaign did the right thing by amending their reports.