Reagan windfall – Library getting campaign funds

WASHINGTON — Ronald Reagan’s 1984 campaign committee kept operating so long after his last election that it has a surplus of nearly $500,000.

The money is being transferred to the former president’s library in California, the Associated Press reports.

Reagan’s chief of staff, Joanne Drake, says the Reagans were unaware that the committee was still operating until recent AP stories.

It is unusual for a presidential campaign committee to remain in operation so long, AP says. The campaign committees of both President Clinton and former President George Bush have been closed.

Only John Glenn has kept his 1984 presidential committee open to raise money to pay debts.

Reagan’s committee has no debts.

In the 15 years since Reagan’s last election, the committee has received interest and dividends on its money, paid taxes and paid its treasurer, Bay Buchanan, several thousand dollars a year in consulting fees. Buchanan is the sister of Pat Buchanan, the Reform Party presidential candidate and former Reagan White House speechwriter.

The nonprofit Ronald Reagan Presidential Foundation, which funds the library and museum in Simi Valley, Calif., already has received part of the $495,857 and will be getting the rest, says Executive Director Mark Burson.

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