ST. PAUL, Minn. (AP) — The Republican Party of Minnesota says it’s making progress toward fixing its troubled finances, cutting its debt in 2013 from nearly $1.7 million to just under $1.2 million.

The party says it finished the year with $90,000 in the bank, compared with just $2,000 at the end of 2012. The party took in $2.5 million in contributions in 2013.

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Treasurer Bron Scherer says the party is now in a better financial position than it’s been in for many years.

Besides fundraising, the party cited revamped operations, cost-cutting and restructured debt.

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Chairman Keith Downey says the party still has plenty of work to do, but it’s positioned much better for the future.

The party will formally report its financial results to state and federal agencies on Jan. 31.

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