The Minnesota GOP has agreed to pay a $170,000 fine to settle a series of federal campaign finance reporting violations.

The party announced the agreement with the Federal Election Commission late Thursday.

Federal regulators found a series of violations in the party’s 2006 and 2007 reports, such as failing to disclose outstanding debts and transferring more money than allowed from the party’s state account into its federal account.

GOP Chairman Tony Sutton says the fine is a “hard lesson” and that other state parties have paid civil penalties for similar violations. He says the Minnesota GOP has taken measures to improve its compliance with federal campaign reporting law.

The matter stemmed from a complaint filed by a watchdog group called Citizens for Responsibility and Ethics in Washington.