Washington (CNN) - Mitt Romney’s chief fund-raisers emailed campaign donors Monday assuring them that their contributions are being spent wisely - and aggressively – in the closing chapter of the presidential campaign.
In the memo to donors provided to CNN by a Republican source on Monday, National Finance Chairmen Spencer Zwick and Mason Fink wrote that the campaign is unleashing a “robust” spending effort for the final month of the race.
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“We will spend as much in paid advertising, direct mail, and field operations in the next five weeks as we have spent since becoming the presumptive nominee,” Zwick and Fink wrote. “Financially, Romney Victory is operating on budget, on both the revenue schedule as well as the expense plan, to execute a fully funded effort.”
The fund-raisers touted the combined efforts of the so-called Romney Victory program - a joint fund-raising operation between the Romney campaign and the Republican National Committee - on television airwaves and on the ground in key states.
The memo comes as Romney faces questions from donors and GOP elites about the shaky state of his campaign and recent slippage in an array of swing state polls heading into Wednesday's debate in Denver.
The campaign is “optimizing every dollar,” Zwick and Fink wrote in the memo.
“The Victory program has identified more than 2.2 million swing voters and will deliver advocacy messages tailored to specific issues and demographics through Election Day,” the memo explains.
Zwick and Fink noted that Romney and the Republican National Committee have $168.5 million in the bank compared to $125 million for President Barack Obama and the Democratic National Committee - but those are the same cash-on-hand figures both campaigns reported as they began September.
A Romney aide declined to say how much money the Victory effort had in the bank as of Monday, the first day of October.
Read the full text of the email below.
MEMORANDUMTo: Interested Parties
From: Spencer Zwick, National Finance Chairman and Mason Fink, National Finance Director
Date: October 1, 2012
We will spend as much in paid advertising, direct mail, and field operations in the next five weeks as we have spent since becoming the presumptive nominee. Financially, Romney Victory is operating on budget, on both the revenue schedule as well as the expense plan, to execute a fully funded effort. We are very pleased with the overwhelming financial support we have received.
Global cash on hand across presidential campaign entities – both national parties and the affiliated state parties – provides us with a cash-on-hand advantage of $43.5M. To date, the Democratic entities have $125M on hand, compared with $168.5M for the Republicans – even though the Democrats have outraised us by $112M.
Obama for America has raised $441M vs. $284M for Romney for President – and the President had no primary opponent while we spent nearly $90M in our effort to win the primaries. We have known since securing the nomination in April that we would be outspent in this election. However, our cash advantage underscores our ability to spend to win in the final weeks.
October Spending Plan
In the final five weeks, we will focus our spending on paid advertising and GOTV efforts. Both Romney for President and the RNC are actively running ads in targeted markets. For example, we are airing a new “hybrid” ad – in conjunction with the RNC – that lays out the differences between President Obama and the Democrats and Governor Romney and the Republicans on the issue of taxes.
With the help of 73,000 volunteers, the RNC and Romney-Ryan Victory program is delivering our message to voters on a one-to-one basis. Our team has already made more than 26 million voter contacts. Volunteers have already knocked on nearly 2 million more doors than in all of 2008 and made six times more phone calls than at this point four years ago. The Victory program has identified more than 2.2 million swing voters and will deliver advocacy messages tailored to specific issues and demographics through Election Day.
Our October spending will continue to follow our robust expenditure plan. Romney for President and the Republican Party Committees are cooperating closely to run an integrated campaign in battleground states to defeat President Obama and the Democrats in November. Together, our efforts will fund the voter registration, GOTV efforts, early/absentee voting programs, phone banks, mail programs and paid advertising needed to win. In the past, presidential efforts have had five to ten budgets with little discussion among the budget committees, which led to duplicating efforts and inefficiencies. The effort supporting Governor Romney has one global budget and one budget committee. We are paying once for every need and optimizing every dollar.
Going into October, we are financially positioned to spend as much on paid advertising, direct mail, and field operations in the remaining days as we have spent since becoming the presumptive nominee.