Liberal party finances may mean 3 rather than 4 by-elections

An article by John Ivison for the National Post discusses the latest speculation about when by-elections might be called. It suggests by-elections in Guelph, Westmount--Ville-Marie, and Saint Lambert will be called on July 20 with a vote set for Monday, September 8.

John Godfrey, the Liberal MP for Don Valley West, is not going to resign until August 1. Speculation is that this is because the Liberals are too cash-strapped to have 4 by-elections at the same time. If this is true, how can they afford a general election?