Financial disclosures for Clay County members of the Legislature reveal that the House and Senate budget chairs have taken different approaches to personal finance in recent years.
Rep. Travis Cummings, the Clay County Republican who chairs the House Appropriations Committee, has seen his net worth increase more than 400% while serving in the House.
At the end of last year, Cummings was worth approximately $3.618 million, far ahead of the $814,964 he was worth at the end of 2012.
Assets of $4.38 million include $1.475 million invested with Merrill Lynch, $1.036 million in investments via NFP (common units and a 401k), and a $1.375 million manse in Fleming Island (with more $700,000 in mortgage liability).
Income is substantial, via the Cummings Consulting Group.
Between salary/wages and business income, Cummings made $588,000 in 2018, dwarfing his House salary of less than $30,000.
That $588,000 number is more than double what Cummings made from the consulting group in 2012.
Cummings’ HD 19, which includes parts of Clay County, is nearly majority Republican. Of slightly more than 101,000 voters, nearly 48,000 are Democrats.
Cummings’ last competitive election was in 2016, when he beat Libertarian Ken Willey, with more than 80% of the vote.
Termed out in 2020, the Fleming Island Republican is expected to run for Sen. Rob Bradley’s seat. He, too, is termed out.
As opposed to Cummings, Bradley has maintained his financial position in recent years, but his disclosure remains remarkably consistent.
The Senator had $1.477 million as of the end of 2018. To compare, he had $1.42 million at the end of 2017. And $1.358 million at the end of 2013.
The Senator has almost $1.8 million in assets, including over $400,000 stakes in the since-renamed law firm Kopelousos, Bradley and Garrison and Hibernia Property Management.
Of his roughly $300,000 in debts, most of the money is borrowed against his home, valued at $450,000.
A.G. Gancarski has been a working journalist for more than two decades. Gancarski has been a correspondent for FloridaPolitics.com since 2014. In 2018, he was a finalist for an Association of Alternative Newsweeklies "best political column." He can be reached at firstname.lastname@example.org.