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Rep. Vern Buchanan is 11th-wealthiest member of Congress

Rep. Vern Buchanan, R-Sarasota, is the 11th-wealthiest member of Congress, according to a new analysis by CQ Roll Call.

In all, four Florida members of the House of Representatives are among the 50 richest members of Congress.

Florida also holds claim to two slots on another list put out by CQ Roll Call: The 10 poorest members of Congress.

CQ Roll Call, a Washington-based political news organization, does the hard work each year of going through financial disclosure reports members of the House and Senate file each year.

The reports are maddeningly imprecise: Assets are reported in broad ranges -- i.e., an investment worth between $500,001 and $1 million -- and some aren't reported at all.

The value of a federal retirement savings account is exempt from disclosure, as is the value of a personal residence.

However, home mortgages must be reported, meaning "someone could appear quite poor, even if they have a ton of home equity," CQ Roll Call says.

CQ Roll Call says it determines a "minimum net worth" by subtracting the total minimum value of all liabilities from the total minimum value of all assets.

With those caveats:

At the top of the list, as he was last year, is Rep. Darrell Issa, R-Calif., with a minimum net worth of $357.3 million.

As for the lawmakers from Florida, No. 11 on the national list is Buchanan, with a net worth calculated at $37.2 million.

Buchanan's disclosure report runs 21 pages, much of it taken up by a detailed listing of more than 160 assets, some of them still held, some sold during 2013. It also shows more than 120 transactions during 2013, and more than a dozen mortgages and other liabilities.

The calculations on all those, performed by CQ Roll Call, put Buchanan's minimum assets at $58.3 million and his minimum liabilities at $21.15 million, for the net worth calculation of $37.15 million.

That was up substantially from the previous year -- a 17.4 percent increase of $5.5 million. The previous year, his net worth was calculated at $31.65 million and his rank in Congress was No. 12.

According to CQ: "In a year, Buchanan paid off a significant portion of the mortgage on his purchase of Lear Jet, Aircraft Holding & Leasing LLC., decreasing the liability from $5 million to $1 million. He also closed a million-dollar line of credit at Bank of America used for one of his car dealerships, bringing down his liability total and subsequently increasing his minimum net worth."

CQ said Buchanan also sold $2 million of hedge fund investments and a $1 million property in Florida. Buchanan's assets include both investments and real estate holdings.

The financial disclosure statement showed he is also a partner, managing member, director or president in 35 organizations, including real estate operations and the Buchanan Automotive Group.

No. 17 is Rep. Alan Grayson, a Democrat from Orlando, with a net worth calculated at $26.2 million, up nearly $10 million from the previous year.

No. 29 is Rep. Curt Clawson, a Republican from southwest Florida, with a net worth calculated at $13.5 million.

No. 50 is Rep. Tom Rooney, a Republican from in the central part of the state whose district includes part of East Manatee, with a net worth calculated at $7.5 million.

At the other end of the range are two South Florida Democratic representatives: Alcee Hastings, from Miramar, and Debbie Wasserman Schultz, who is from Weston and also doubles as the chairwoman of the Democratic National Committee.

They are Nos. 2 and 3, respectively, on the 10 poorest members of Congress list. Both were calculated to have a negative net worth.

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