Steve Ly Raises $13,000 For Next Elk Grove Mayoral Run, Carries More Debt Than Cash

August 3, 2017 |  

With the disadvantage of having a two-year term versus four years for city council members, whoever is Elk Grove mayor almost needs to be in non-stop funding raising mode. For Elk Grove's current mayor, that continues to be the case.

According to financial disclosures filed with the Elk Grove City Clerk's office. For the six month period ending on June 30, 2017, Steve Ly raised $13,999 in cash and $1,250 in non-monetary contributions.

Among Ly's largest donations from 16 contributors were the following:
  • Chrysanthy T. Demos Investments - $5,000
  • Plumbers & Pipefitters Local Union No. 3 - $2,000
  • California Association of Realtors PAC - $1,000
  • EG Grantline LLC - $1,000
  • Laguna Gateway Phase 2, LP - $1,000
  • John Papagiannopoulus, Papas Investments - $1,000
In non-monetary contributions, Ly was given free booth space at this year's Elk Grove Western Festival valued at $250.

For expenditures, Ly spent $33,104 and carries $15,111 in outstanding debt. Among notable debts, Ly currently owes noted political consultant Richie Ross of Ross Communications $5,500 after paying him $9,500 of the debt during the reporting period. 

Another outstanding debt Ly is carrying is an undated expenditure for $3,172 for a creditor listed as Eden Gardens. Although the address listed for the business is redacted on the disclosure form, Ly held an event at an Elk Grove event center named Eden Gardens on February 25 to celebrate his mayoral victory. 

During the period Ly had two curious expenditures. Those expenditures were for credit card payments and to a home-based political consultant.

Ly made eight payments totaling $3,072 classified as credit card payments to U.S. Bank. Though not required, in the past Ly's Elk Grove City Council colleagues have voluntarily and regularly itemized things such as airline tickets, hotel rooms, and meals paid on their credit cards while traveling for political purposes. 

Additionally, Ly made payments for campaign consulting totaling $1,950 to an Elk Grove-home based group called Legion IV Asymmetric Consulting. A search of the Sacramento County's fictitious business name statement database did not reveal a business registered with that name.    

Ly ended the reporting period with a cash balance of $7,662 and outstanding debts of $15,111.  

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